France taps strategic diesel reserves, diesel prices fall
By Romain Gutkind ·
On average in France, diesel was selling on Saturday 31 October at around 2.37 euros per litre.
TotalEnergies' Access stations were already below that average, with the price reduced to 2.15 euros per litre, 10 cents less than in the group's other stations.
The multinational explained that it had decided on a price cut "without waiting for the physical delivery of strategic diesel stocks and in order to allow its customers to benefit from access to these stocks at their historic cost".
The E. Leclerc supermarket chain is following suit and has announced a reduction of 21 cents per litre of diesel sold at its roughly 742 service stations in France.
According to E. Leclerc, the 21-cent reduction will be deducted from the price every day, and that price will continue to fluctuate in line with market prices.
The other major retail group Coopérative U will be offering an identical cut.
In mid-October the government announced the release of ten million barrels of diesel from strategic stocks. These volumes had been bought before the war in the Middle East and are being sold at 0.28 euro per litre, compared with 1.1 euro per litre on average in mid-October.
Originally published by Euronews Business