France to monitor fuel price drops to ensure pump prices fall

The French government is closely watching fuel prices to ensure that recent drops in oil costs are reflected at the pump, according to government spokesperson Maud Bregeon. "Our role is to ensure that the decreases are impacted on prices at the pump as quickly as the increases were," she stated.

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Our role is to ensure that the decreases are impacted on prices at the pump as quickly as the increases were.

This focus comes after a meeting between government ministers and fuel distributors. The price of Brent crude oil fell 2.52% to $81.07 a barrel, while U.S. WTI dropped 2.65% to $78.61, reaching their lowest points since mid-March. "We must obviously be very cautious. However, diesel prices have not been this low in three months. This is obviously good news," Bregeon added during a press briefing.

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We must obviously be very cautious. However, diesel prices have not been this low in three months. This is obviously good news.

Serge Papin, the Minister of Commerce, promised to be attentive to the "repercussion of the price decreases" and assured that he is monitoring distributor margins. Earlier in May, amid rising Middle East tensions that pushed oil prices up, distributors faced accusations of exploiting the crisis for profit. However, Papin affirmed that "there was no windfall effect," stating that distributor margins, after an initial "panic of margins," have stabilized to pre-crisis levels.

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I will be attentive to the repercussion of the price decreases.

Bregeon reiterated the government's commitment to ensuring that price reductions are passed on to consumers promptly. Papin indicated a willingness to pressure distributors who do not pass on the lower crude oil prices, though he noted that this is not the general sentiment among all distributors.

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There was no windfall effect.