posted on Sep, 10 2005 @ 09:26 AM
The French government has threatend oil companies with "special taxes" if they do not hand back some of their huge profits through lower prices. BP
and Total have agreed to lower their prices in France. Total lowered its price per liter of petrol by 0.03 euros and said it will lower the price
again today. BP said it will follow Total's lead.
Oil giants BP and Total have agreed to cut French fuel prices after government threats to levy a new tax on oil firms in the face of soaring crude
Total cut prices by 0.03 euros a litre for petrol and 0.02 euros per litre for diesel. BP said it would follow suit on Monday with the same cuts.
But Total added it would reduce prices by the same amount again on Saturday.
The move came as European Finance heads discussed the economic fallout of surging oil prices at talks in the UK.
It also came a day after French Finance Minister Thierry Breton urged the industry to hand back some of its huge profits through price cuts.
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0.03 euros/per litre? Is that meant as an insult? BP alone made £6 billion
($US10 billion)profit in the first 6 months of this year! In
England their price of petrol has risen by almost 10p in the last week and they think a few pennies price falls makes a difference?
We should follow France's lead and shift most of our petrol tax duty onto the Oil companies themselves. ~£12 billion annual profit is obscene when
our economy is on the brink of recession due to oil prices.
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[edit on 10/9/05 by subz]