Faced with rising oil prices linked to tensions in the Middle East, Totalenergies is reinstating fuel caps at the pump ahead of quarterly results expected to rise nearly 90% thanks to rising Brent crude prices.
The rising tension in the Middle East is already starting to be felt at the pump. After a lull at the end of June, diesel prices have increased significantly. in recent days will be significantly higher than the painful level of 2 euros per liter.
Faced with a new rise in global prices for petroleum products, Totalenergies announced the reinstatement of the fuel price cap system at all of its filling stations in mainland France. The decision, which was made on the eve of the publication of quarterly results, was expected to show very strong growth thanks to rising oil prices.
Set cookies
As committed, the French company is reintroducing the policy, which was cut last June, for the group’s 1,200 rural stations. From now on, the price of petrol will be capped at 1.99 euros per liter and the price of diesel at 2.25 euros per liter at all Totalenergies petrol stations in France. As such, the company is reinstating the same mechanism as during the previous price surge to limit the impact of price increases on motorists.
The group is also confirming the resumption of its commercial activities at motorway service sites during the major bank holiday weekend. On August 1 and 2, August 15 and 16, and August 29 and 30, petrol and diesel will be sold at a maximum price of €1.99 per liter on motorways, where prices are usually significantly higher. Customers who have signed up to an electricity or gas contract with Totalenergies and enjoy the “fuel advantage” will maintain the €1.99 per liter cap on all their refills until the end of the year.
Expected results are growing
This is not the first time Totalenergies has used this leverage. From 2022, during the energy crisis caused by the war in Ukraine, the group provided significant discounts on refills, up to 20 cents per liter, before introducing a cap of €1.99. The system was then extended several times during episodes of high volatility in oil markets under pressure from government and public opinion, before being canceled in June 2026 when prices dropped significantly.
This new measure comes at a time when oil markets are again under pressure. Oil prices rise sharply this Wednesday, with Brent rising above $95 a barrel for the first time in nearly six weeks, as hostilities in the Middle East raise fears of a prolonged blockage of hydrocarbon exports from the region.
The major will announce his results this Thursday morning. Unless analysts comment on net income, which is likely to be impacted by exceptional circumstances, the consensus is very bullish on adjusted net income. Bank of America’s Visible Alpha estimates that figure will reach $6.99 billion, while Royal Bank of Canada expects $6.57 billion. In both cases, this would represent an increase of 83-95% compared to the $3.58 billion recorded in the second quarter of 2025.
By reinstating its fuel shield ahead of this publication, Totalenergies seeks to mitigate the impact of rising prices on consumers, while recalling that part of the exceptional profits realized from rising oil prices are redistributed through these commercial mechanisms. The strategy has already been used during previous energy crises, when the group’s record profits sparked intense debate over the taxation of “windfall profits.”