Fuel reserves to be released

The French government has decided to release 10 million barrels from its strategic fuel reserves to help lower diesel prices, which have been rising due to the ongoing Iranian conflict and other factors.

Expected price reduction

Roland Lescure, the minister of Economy, said the release of these reserves, which have been stored in the southwest for decades, should reduce pump prices by 12 to 18 cents per liter. However, it will take several weeks before the fuel becomes available on the market.

Fuel distribution plan

According to Lescure, the fuel will be directed to isolated stations and will be marked and sold starting from November at prices lower than the current diesel prices. This move aims to provide some relief to consumers in areas with limited fuel access.

Rising diesel prices

As of Sunday, October 11, the average price of diesel in France exceeded 2.30 euros per liter, with an Alsacian station reaching above 3 euros. These high prices have been a growing concern for both consumers and the government.

Russian diesel not on the horizon

Lescure also addressed the potential impact of a possible agreement between Washington and Moscow for the purchase of Russian diesel. He stated that there is no Russian diesel in France and there will not be any, as France aims to extend sanctions against Russia rather than reduce them.

Budget described as ambitious

Regarding the budget submitted by his team, Lescure described the choice as "ambitious," with a decrease in the primary deficit, excluding debt charges, from 2.8% to 2.1%, for an overall annual deficit at 5%. However, the adoption of the budget faces challenges.

Budget adoption challenges

The commission has already rejected the revenue section of the budget, and if not adopted by a regular vote, the government could choose to promulgate it through ordinances and pass the budget in its original form, bypassing debates. Lescure warned the opposition that if they could not stay on the "glide path," it would result in the use of ordinances.

Criticism of National Rally's counter-budget

Lescure criticized the counter-budget of the National Rally, questioning how one could imagine saving 3 billion euros on pensions by reducing the retirement age to 62 years. He stated that they "do not know how to count" and are "lying to the French."

Advocating for dialogue

He advocated for a dialogue with the Republican right and the socialists, despite acknowledging that primary elections on the left could make some debates difficult. He also mentioned the possibility of asking retirees to contribute more, stating that 25% of the French are retirees and they are being asked to contribute 10% of the efforts.

Unpopular measures and political tension

Lescure emphasized that everyone must contribute to the national effort, even though he assured that he does not want to reduce any pension. Instead, he wants to target the tax exemption for professional expenses that retirees benefit from, or even the disindexation of their pensions from inflation. These measures are considered highly unpopular, especially as elections approach, while he admits that this part of society represents "40% of the electorate." The autumn debates are already tense.