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- October 13, 202618°
- BIST10012,151-0.94%
- USD49.220.00%
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- INTEREST37.00%-1.00
- BITCOIN81,946-2.06%
- October 13, 202618°
French President Macron asks the EU to temporarily ease fuel rules
French President Macron asked the European Union to temporarily relax regulations on kerosene and diesel to reduce fuel prices, which have reached record levels. Macron said the step could increase refinery output by 5% to 20%, while diesel prices in France approached 2.41 euros per liter.
French President Macron asked the European Union to temporarily relax some regulations governing the sector to reduce fuel prices, which have reached record levels in the country.
Macron said that temporarily easing rules on kerosene and diesel in particular could increase the amount of fuel produced at refineries by 5% to 20%.
Fuel production is set to increase
Macron said the measures would help strengthen Europe’s oil imports and production capacity, arguing that action was needed across Europe to address problems with energy supplies.
Macron said the Strait of Hormuz had been almost completely closed since March, causing a crisis in energy markets, and that Europe’s dependence on the Middle East for energy had left the continent adversely affected.
The French president said the Middle East accounted for 36% of Europe’s kerosene imports and 18% of its diesel imports.
Diesel prices hit a record in France
Diesel prices in France approached a new record of 2.41 euros per liter. Protests by business groups most affected by rising fuel prices are continuing.
Tensions in the Strait of Hormuz, located at the entrance to the Persian Gulf, have caused a crisis in energy markets by affecting the delivery of oil and liquefied natural gas from the Middle East to global markets via the Arabian Sea and the Indian Ocean.
The French government has introduced aid programs for sectors hit hardest by rising fuel prices, but the support has been deemed insufficient.
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