Tuesday. 30.05.2023
ENERGY

France to knock 15 cents off per litre of petrol to fight price hikes

Speaking to the Le Parisien newspaper, he said the subsidy would be delivered directly at the pump
11 March 2022, Baden-Wuerttemberg, Freiburg im Breisgau: A board displays the prices for different types of fuel at a gas station. Fuel prices are at a record high due to the war in Ukraine. Photo: Philipp von Ditfurth/dpa.
A board displays the prices for different types of fuel at a gas station in Freiburg im Breisgau (Germany). Photo: Philipp von Ditfurth/dpa.

France is set to introduce a subsidy of 15 cents (16 US cents) per litre of petrol to provide some relief from climbing fuel prices, according to Prime Minister Jean Castex.

The policy is set to go into effect in April and is to last for four months, he tweeted.

Speaking to the Le Parisien newspaper, he said the subsidy would be delivered directly at the pump, meaning customers will pay less than the price advertised. It will apply to all fuel varieties.

Castex said the step will cost €2 billion of taxpayers' money and called on oil companies and distributors to match the gesture with a contribution that would also reduce fuel prices for consumers.

France to knock 15 cents off per litre of petrol to fight price hikes
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