Selling fuel at a loss: the CEO of TotalEnergies says “no”

Selling fuel at a loss the CEO of TotalEnergies says

This is a very clear refusal of the government proposal. The CEO of TotalEnergies Patrick Pouyanné refuses to sell his fuels at a loss and “will not go lower” than the current price of 1.99 euros per liter currently set at his group’s service stations in France, he said. warned Tuesday.

“1.99 is a ceiling, TotalEnergies’ policy will be ensured […] I won’t go any lower. This is already a significant effort,” declared Patrick Pouyanné, interviewed by a journalist from the “Quotidien” program. “This ceiling applies in approximately 3,000 stations today. So that means the normal price is higher,” he added.

“Do you often sell products at a loss?” he asked his interviewer. “A little common sense, that’s it, thank you,” he concluded.

TotalEnergies owns a third of the service stations

The oil group, which manages a third of the service stations in France, announced last week that it would extend next year the cap at 1.99 euros per liter on the price of gasoline and diesel in its 3,400 stations, “as long as prices remain high”.

On Saturday, Prime Minister Elisabeth Borne lifted an old taboo by announcing that fuels could be sold at a loss. This measure, which will be the subject of a bill, should come into force at the beginning of December for a period of six months.

Oil prices have increased significantly

© / The Express

Meetings in Bercy

According to Le Figaro, summoned Tuesday morning in Bercy by the Minister of Economy and Finance Bruno Le Maire, the managers of Leclerc, Carrefour, Intermarché, Système U, Casino and Auchan expressed their unanimous opposition to the loss-making resale of fuel in the car parks of their hypermarket. Questioned by AFP, these distributors did not wish to comment on this information.

Just like Bercy who simply indicated that Bruno Le Maire and the Minister Delegate in charge of SMEs, Commerce and Crafts Olivia Grégoire had “addressed” the question of selling fuel at a loss during this meeting with the bosses of the distribution.

According to Bercy, “Bruno Le Maire also recalled that independent stations will benefit from compensation” and that they will be “accompanied by a multi-year transformation plan aimed at allowing them to offer new services such as fast charging stations”.