Fuel prices: TotalEnergies to maintain cap 'as long as conflict lasts'

Energy giant TotalEnergies has pledged to maintain its fuel price cap at its service stations, a measure implemented to alleviate consumer costs during the ongoing conflict. CEO Patrick Pouyanné stated the company would sustain this policy "as long as the conflict lasts."

This commitment comes at a significant financial cost to the group, with Pouyanné estimating the price cap is costing between 250 and 300 million euros. The initiative aims to provide some relief to customers facing rising energy expenses, demonstrating a degree of corporate social responsibility amidst economic challenges.

However, Pouyanné also issued a warning, suggesting that the price cap could be discontinued under certain conditions. He specifically mentioned the potential introduction of a new tax on "super-profits" as a trigger for reconsidering the cap. This caveat highlights the delicate balance TotalEnergies is navigating between supporting consumers and managing its financial obligations and profitability in a complex economic climate.