TotalEnergies' Discounted Fuel Spreads Across France Amid Competition Fears
French motorists have been flocking to TotalEnergies service stations to fill up with discounted gasoline, prompting accusations from rivals of distorting competition and unfair business practices.
The energy giant has implemented a price cap of €1.99 per liter for E10 fuel, significantly lower than the national average of around €2.15 per liter, in an effort to provide relief to consumers amidst rising oil prices.
TotalEnergies' chief executive Patrick Pouyanné has stated that the company will abandon the price cap if a special tax is introduced on windfall profits made by energy companies.
The move has been met with criticism from competitors, including independent service stations and supermarkets, who argue that it gives TotalEnergies an unfair advantage in the market.