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French Government Mulls Targeting Refining Profits

REFINING

High gasoline and diesel refining margins are a source for concern and may need to be addressed by government action according to French Finance Minister Bruno Le Maire Thursday.

  • “With (Energy Minister) Agnes Pannier-Runacher, I will raise the issue of high margins with the economic actors in question and take decisions to avoid excessive profits in this sector as in others.” Le Maire said.
  • Le Maire praised a decision by oil giant TotalEnergies to maintain a cap on fuel prices past the end of the year and urged other distributors to do the same.

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