Prime Minister Sébastien Lecornu has called on TotalEnergies to strengthen its fuel price caps to redistribute its superprofits. The statement comes amid a sharp rise in the group's earnings due to the Middle East conflict. The government is opting for targeted aid amid budget constraints.
French Prime Minister Sébastien Lecornu is encouraging TotalEnergies to implement a 'generous cap on pump prices.' According to statements reported by La Tribune Dimanche, he said: 'Common sense is a generous cap that can become interesting again for French consumers, who can see the benefit of having a French oil group.'
This follows a 51% jump in TotalEnergies' net profit for the first quarter of 2026, driven by soaring oil prices due to the Middle East conflict. The group currently caps prices in France at 1.99 euros per liter for unleaded gasoline and 2.09 euros for diesel, as long as the crisis continues.
The Socialist Party has tabled a bill to tax energy groups' superprofits, backed by the left. Marine Le Pen of the Rassemblement National supports taxation if capping proves insufficient. Amid budget constraints, Lecornu assured that the government is adapting targeted aid 'depending on the duration of the war.'
