Macron calls on EU for temporary flexibility in fuel standards

French President Emmanuel Macron has reportedly requested temporary regulatory flexibility from the European Union to lower fuel prices, which have reached record levels in the country.

According to a report by French broadcaster BFMTV, based on a letter Macron sent to European Commission President Ursula von der Leyen, the Paris administration is seeking a temporary relaxation of quality standards, particularly for kerosene and diesel fuels.

In his letter, Macron argued that this flexibility could increase the amount of fuel that can be produced in refineries by 5 to 20 percent. The French President stated that this step would contribute to strengthening the European continent's oil imports and production capacity.

GOVERNMENT SUPPORT PROGRAMS DEEMED INSUFFICIENT

It is noted that diesel prices in France have reached a new record level, approaching 2.41 euros per liter. While price increases have sparked reactions, particularly in the fishing and agricultural sectors, the government's support programs have been found insufficient on the ground.

Macron also drew attention to the tension around the Strait of Hormuz as the backdrop for the pressure on energy markets. The letter stated that the Middle East's share in Europe's kerosene imports is 36 percent, and its share in diesel imports is 18 percent.

The Strait of Hormuz, at the entrance to the Persian Gulf, is among the critical routes for transporting oil and liquefied natural gas from the Middle East to world markets via the Arabian Sea and the Indian Ocean.

News Source: 12punto