The French government will closely monitor retail fuel prices to ensure that they fall as fast as they rose following the Iran-US truce agreement. This was stated today in an article in "Ex" (X), Reuters reported, BTA reported.
French authorities will hold a new meeting with energy sector representatives to implement a "control plan", he added.
"When global prices fall, gas station prices must fall as fast as they rose. The government will guarantee this", Lecornu said. Oil prices fell sharply this morning after US President Donald Trump announced a two-week ceasefire agreement with Iran, which is linked to the immediate opening of the Strait of Hormuz to shipping.
The Strait of Hormuz is a vital shipping route through which about a fifth of the world's oil trade normally passes, and its closure by Iran in recent weeks has sent oil prices soaring - by more than 50 percent in March.
In France, the energy minister-designate and government spokeswoman Maud Brejon said yesterday that about 18 percent of French gas stations were running out of some type of fuel. She said this was due to logistical difficulties related to changes in demand, rather than a general supply problem.
French oil giant “TotalEnergie“ (TotalEnergies) has set a cap on its retail prices in France that is below those charged by other companies, and this has led to supply problems at some gas stations, Brejon said.