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TotalEnergies Caps Fuel Prices Across Rural Stations During Peak Travel Season

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TotalEnergies (TTE) said Tuesday it will cap gasoline and diesel prices at 1.99 euros ($2.27) per liter across 1,200 of its rural service stations in France during July and August, extending a measure aimed at shielding motorists from higher fuel costs during the busy summer travel season.

The company said the price ceiling will also apply at all of its motorway service stations, during five peak holiday travel weekends spanning July and August.

It noted that rural areas are often slower to benefit from declines in fuel prices, because many local stations build up their inventories at higher prices, and given the low consumption levels, it takes a while before lower costs are passed on to consumers.

The price cap is aimed at addressing this issue, across its 1,200 rural service stations, which the company said was part of its initiative to provide more affordable energy to consumers during peak travel seasons.

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