As consumers struggle with rising energy costs, Windfall Taxes (OTC:WINKF) on oil companies are a global topic of discussion. TotalEnergies TTE is attempting to prevent a price war by committing to lower prices. From September to November, the company will reduce fuel prices by 20 Eurocents per liter compared to global market prices, and by 10 Eurocents per liter from November to the end of the year. This week, the price of gasoline in France was estimated at €1.95 per liter, or about $7.50 per gallon, so the initial reduction amounts to a 10 percent decrease.
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Fearing a windfall tax, this oil company is reducing the price of gasoline at its gas stations.