French government maintains the 0.25 euros rebate per litre of transport fuel

It is official, the French government is maintaining the 0.25 euros rebate per litre of transport fuel.

In March 2022 , the French government introduced a rebate of 0.15 euros ($0.16) per litre of transport fuel to help drivers cope with soaring pump prices. Following the successful initial rebate, the measure was amended and raised to 0.25 euros in August.

Although the support measure was intended to be active for just two months, the government announced that it will be maintained until 15.11.2022.

The price reduction will be implemented by every distributer and that will mean: Diesel without VAT is 0.25 euro/litre and with VAT is 0.30 euro/litre. And for gasoline, without VAT is 0.25 euro/litre and with VAT is 0.30 euro/litre. CNG/LNG is 0.35 euro/kg without VAT and GPL is 0.48 euro/kg without VAT.

Retail gasoline and diesel prices soared to record highs in many countries across the world this year as Russia’s invasion of Ukraine added to market tensions, after economies had begun recovering from the coronavirus pandemic.

The future looks uncertain?

In November, OPEC+ will slash its global output by two million barrels per day at a time when international inventories of crude oil remain tight. But will OPEC+’s cuts cause Canadian gas prices to rise?

According to globalnews.ca ”OPEC+  said on Oct. 5 its scheduled cuts were made to support waning oil prices.

Oil had been trading well below its summer peaks because of fears that major global economies such as the U.S. or Europe will sink into recession due to high inflation, rising interest rates and energy uncertainty over Russia’s war on Ukraine.”