Several oil companies may be making over 80 million euros in “super-profits” per day since the start of the Middle East war [Context: Greenpeace study finds]. Details and background Annabelle Grelier: To reach this figure, Greenpeace’s study looked at the difference between the price of crude oil and fuel prices at gas stations in January and February 2026 on the one hand, and the first three weeks of March on the other. According to these calculations, this margin increased. “The report shows that the increase in pump prices is much higher than the underlying prices of crude oil,” summarizes Greenpeace in its statement. While Greenpeace did not detail the profits made by each oil company, the Financial Times revealed that Total, the French oil company, had made 1 billion in profits in March alone, through oil trading operations just before the start of the war [Fact Check: Greenpeace calls for a permanent tax on profits for Total].
The Prime Minister, Sébastien Lecornu, suggested funding electrification measures with the tax revenue surplus from rising fuel prices [Fact Check: Opposition parties criticize the idea]. Maud Bregeon, the government’s spokesperson, explained that the use of this surplus should focus on long-term solutions, rather than short-term ones. An electrification plan is now being discussed, with different political parties proposing various measures. Marine Le Pen opposes the government’s strategy and suggests reducing VAT and fuel taxes instead. The National Rally’s proposal is deemed to have a heavy impact on public finances.
Patrice Geoffron, an economist at Paris-Dauphine University, mentions the challenges of oil exploration and production being overseas. He questions whether focusing on electrification is the right path [Context: Exploration and production cost control]. As discussions continue on government measures and future plans, fishermen in the Mediterranean plan an indefinite strike starting on April 7 to protest the fuel price increase linked to the Middle East war. Another concern is the price surge affecting small transport companies in Charente-Maritime, forcing them to leave part of their truck fleet idle to avoid losses [Fact Check: Industry impact].
