TotalEnergies Extends Fuel Price Cap Amid Middle East Conflict

TotalEnergies has decided to extend its fuel price cap as long as the conflict in the Middle East continues. The company's CEO, Patrick Pouyanné, confirmed this decision on August 29 during an interview with French media outlets.

The price cap, which was reinstated across all TotalEnergies' service stations in France on July 22, currently stands at 1.99 euros per liter for gasoline and 2.25 euros for diesel. This measure aims to protect customers from high fuel prices, which have risen due to the diplomatic deadlock between the US and Iran.

Pouyanné estimated that the price cap weighs heavily on TotalEnergies' accounts, with losses expected to reach 250-300 million euros by the end of June. However, he attributed this loss to the fact that the company charges less than the international price, resulting in a cost for the business.

The conflict has also led to an increase in oil prices, which benefited TotalEnergies' results. The company reported an adjusted net income of 6.027 billion dollars for the second quarter of 2026 and 11.421 billion dollars for the first half.