France announces fuel rebate to help drivers cope with soaring prices
The French government has announced a package worth 2.0 billion euros ($2.2 billion) to help consumers struggling with soaring fuel prices, with the cost of filling up set to be cut by 15 cents at the pump.
French Prime Minister Jean Castex announced late Saturday that petrol and diesel prices would be reduced by 15 cents per litre from April 1st for four months.
The bill will be slashed by this amount when vehicle owners pay, with the state then reimbursing petrol station owners for the difference.
"That means every time you fill up for 60 euros, you save around nine euros," Castex said in an interview with Le Parisien.
With petrol prices now topping two euros per litre at the pump in some areas, the government has come under pressure to reduce the impact on households.
It has also been under pressure to cut fuel taxes ahead of presidential elections next month, with more than half of prices at the pump made up of taxation.
Underlying petrol and diesel costs are linked to global oil markets which have risen by around 30 percent since the start of the year due to strong global demand and Russia's invasion of Ukraine.
Last October, the government of President Emmanuel Macron announced a cap on gas and electricity prices until the end of 2022 and handed out cheques to poor households to help them with their domestic energy bills.
Eight out of 10 French households have a vehicle, according to official statistics.
Polls suggest Macron is the frontrunner in elections on April 10th and 24th.
READ MORE:
- Residents in rural France to get fuel discounts and €100 gas bill cuts
- France brings in ban on gas boilers for new housing
- How to save money on your energy bills in France
- How life in France could be impacted by the Russian invasion of Ukraine
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French Prime Minister Jean Castex announced late Saturday that petrol and diesel prices would be reduced by 15 cents per litre from April 1st for four months.
The bill will be slashed by this amount when vehicle owners pay, with the state then reimbursing petrol station owners for the difference.
"That means every time you fill up for 60 euros, you save around nine euros," Castex said in an interview with Le Parisien.
With petrol prices now topping two euros per litre at the pump in some areas, the government has come under pressure to reduce the impact on households.
It has also been under pressure to cut fuel taxes ahead of presidential elections next month, with more than half of prices at the pump made up of taxation.
Underlying petrol and diesel costs are linked to global oil markets which have risen by around 30 percent since the start of the year due to strong global demand and Russia's invasion of Ukraine.
Last October, the government of President Emmanuel Macron announced a cap on gas and electricity prices until the end of 2022 and handed out cheques to poor households to help them with their domestic energy bills.
Eight out of 10 French households have a vehicle, according to official statistics.
Polls suggest Macron is the frontrunner in elections on April 10th and 24th.
READ MORE:
- Residents in rural France to get fuel discounts and €100 gas bill cuts
- France brings in ban on gas boilers for new housing
- How to save money on your energy bills in France
- How life in France could be impacted by the Russian invasion of Ukraine
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