• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 6 hours One Last Warning For The U.S. Shale Patch
  • 1 day Modular Nuclear Reactors
  • 1 day Once Upon A Time... North Korea Abruptly Withdraws Staff From Liaison Office
  • 11 hours Oil Slips Further From 2019 Highs On Trade Worries
  • 2 days Chile Tests Floating Solar Farm
  • 9 hours Climate change's fingerprints are on U.S. Midwest floods
  • 2 hours Dutch Populists Shock the EU with Election Victory
  • 1 day Poll: Will Renewables Save the World?
  • 9 hours Telsa Sales in Europe
  • 28 mins 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 10 hours Read: OPEC THREATENED TO KILL US SHALE
  • 6 hours The Political Debacle: Brexit delayed
  • 2 days US-backed coup in Venezuela not so smooth
Why Russia Fails To Comply With The OPEC+ Cuts

Why Russia Fails To Comply With The OPEC+ Cuts

Russia, the most important Non-OPEC…

Cloud Peak On Brink Of Collapse After Bad Coal Bet

Cloud Peak On Brink Of Collapse After Bad Coal Bet

The U.S. power sector’s pivot…

Macron Bows To Protesters, Suspends Fuel Tax Increase

Fuel France

The French government has given in to widespread protests against a planned fuel tax that would raise further the cost of living in the country and announced a suspension of the increase, Reuters reports.

Prime Minister Edouard Philippe declared that the higher fuel taxes will be suspended for six months. What’s more, members of the ruling party said the government was also considering an increase in the minimum wage starting in January next year.

More than 280,000 people took to the roads and streets in France over two weeks ago to protest higher prices at the pump caused by a higher taxes on fuels that are part of Emmanuel Macron’s government’s plan to fight the effects of climate change.

The so-called “yellow vests” blockaded 11 fuel depots, causing shortages at retail stations, with 75 shutting down for lack of product to sell. In Brittany, local government officials discussed fuel rations to avoid a shortage.

Three people have died, more than 100 have been injured, and some 400 have been arrested since the start of the protests. However, the government has maintained its position, with President Emmanuel Macron last week stating, “What I've taken from these last few days is that we shouldn't change course because it is the right one and necessary. We need to change how we work because a number of our citizens feel this policy course is imposed on them from above."

Now, however, if Reuters’ source is accurate, Macron will have to face the first time he needs to go back on a decision. His popularity has suffered, too: the protest, as protests tend to do, has expanded from taxes and the high cost of life into a protest against government policies in general, with the protesters seeing them as favoring the richest segments of French society.

The French economy has already suffered losses of several million euros, Reuters notes.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Terry on December 04 2018 said:
    Macron did not repeal the tax. He postponed the tax. I doubt the rioting will stop. If anything the French people should be more angry.
  • Douglas Houck on December 04 2018 said:
    I found this from Wiki interesting:

    "According to the French Union of Petroleum Industries, the price of lead-free 95 (SP95 - E10) and diesel fuel per litre increased by +14% and +22% respectively between October 2017 and October 2018. However, two thirds of this increase is due to the increase in world oil prices; only one third of the price increase comes from an environmental carbon tax increase. The tax increase had been 7.6 cents per litre on diesel and 3.9 cents on petrol in 2018, with a further increase of 6.5 cents on diesel and 2.9 cents on petrol planned for 1 January 2019."

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News