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French Fuel Shortages Spark TotalEnergies Station Closures Amid Price Caps

Bloomberg Markets •
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Hundreds of French gas stations are running dry, primarily due to TotalEnergies SA stations facing shortages after the government introduced price caps. The energy ministry stated that 700 of the 900 stations out of fuel belong to TotalEnergies, though it attributed the issue to logistical problems, not domestic supply shortages. The conflict in the Middle East and the closure of the Strait of Hormuz are disrupting global oil supplies, causing fuel prices to soar and leading to widespread scarcity.

This situation is forcing drivers to fill up quickly, exacerbating the problem at TotalEnergies stations where increased traffic is straining logistics. The government has responded with aid packages totaling €69 million ($80 million) for transport firms, fisheries, and farmers, aiming to mitigate the war's economic impact.