France makes tax cut amid new stocks talk

摘要

London—While talk of a coordinated oil stock release to cool high prices continues to rumble on, France this week made a unilateral decision of its own in an attempt to placate frustrated French motorists. Pierre Moscovici, France’s finance minister, declared amid some pomp and ceremony in Paris on August 28 that he was cutting tax on road fuels by Eur0.03/liter ($0.17/gallon), which together with a pledge by fuel retailers to match the reduction would see prices at the pump fall immediately by up to Eur0.06/liter.