French PM says diesel stockpile release will cut prices by up to 18 cents per litre

French Prime Minister Sébastien Lecornu has announced that the government will release millions of barrels of diesel over the coming months as a way to reduce fuel prices at the pump. 

In a televised address on Wednesday night (October 7), the prime minister also promised lycée pupils’ concerns would start to be addressed in October. 

Mr Lecornu gave a nearly 15-minute speech covering several topics including energy prices, more aid for farmers, and a plea to other parties to work together to pass the 2027 budget in time this year. 

We cover the main points below. 

Address to lycée protesters

Mr Lecornu started by covering the lycée (for pupils aged 15 - 17/18) pupil protests that have gripped France in recent weeks. 

Law enforcement officers “have no instructions to confront lycée pupils… they must act proportionately in a context that is often very difficult,” he said. 

This comes after several violent clashes that have left hundreds injured – both police and teenagers, as well as teachers – and well over 6,000 arrested. 

An online portal for pupils to share their comments and concerns over the education system has already received over 40,000 contributions, the prime minister said. 

The government will take into account these comments and lay out an initial plan for improving the education system at the end of October, he added.

“The anger among young people does not come from nowhere. We have asked a great deal of them. We are asking them to look to the future with confidence.”

Protests are expected to continue, with the fourth round of nationwide demonstrations taking place today.

The number of protesters on the streets for ‘Acte IV’ of the demonstrations will help to clarify if Mr Lecornu’s promises have convinced students. 

Diesel barrels released, fuel prices should drop 

France will release 10 million barrels of diesel from its strategic reserves to supplement local supplies over the next three months, the prime minister said. Barrels will be delivered directly to French distributors.

This falls alongside wider plans from the G7 and International Energy Agency (IEA) to release up to 100 million barrels of oil and fuel products (including diesel) worldwide to counteract rising fuel prices globally. 

“The diesel in question was purchased before the price surge and will be made available at cost price,” said Mr Lecornu.

“This will automatically lower prices at the pump by an estimated 12 to 18 cents per litre,” he added, although these price drops are not guaranteed. 

Mr Lecornu did not mention if a similar scheme was being planned for oil barrels or petrol. 

Electricity prices should not rise this winter 

Mr Lecornu said the government was committed to making sure electricity prices will not rise this winter, and the government will take “the necessary decisions to ensure this.”

“I will return to this matter soon,” he said, hinting that further policies are on the way. 

“I am also asking [state electricity supplier] EDF to mobilise its generation capacity to the fullest extent, while adhering to safety requirements,” he added.

He did not comment on gas prices, however.

The prime minister also confirmed plans in the 2027 budget for the energy voucher (chèque énergie) to be paid in January 2027, as opposed to in April, its usual release.

More aid for farmers 

The prime minister hinted at further aid incoming for the agricultural sector, set to be unveiled at a livestock fair in Cournon-d'Auvergne (Puy-de-Dôme) today. 

These matters have already been “discussed with the unions,” said Mr Lecornu.

He also praised the work of Agriculture Minister Annie Genevard regarding the ‘emergency plan’ announced for farmers in September, relating to the impact of heatwaves, droughts, and other conditions facing the sector, particularly during the warmer summer months.

Plea for budget consensus 

The prime minister ended the speech with a plea to opposition MPs to work together and pass the 2027 budget. 

“I say this with gravity. It is parliament's responsibility, its foremost responsibility, to provide the country with a budget. I therefore appeal to everyone's patriotism so that the ongoing discussions lead to the necessary compromises,” he said. 

"I am convinced that parliament will ensure France has a budget. The opposition has the right to challenge it. The text can be debated, amended, and modified line by line.”

France has failed to pass its main budget on time for two successive years, leading to billions in additional debt and political chaos. 

Mr Lecornu attempted a strategy of compromise last year – gaining the support of the Socialist Party to pass the social security budget – but in a fractured parliament could not get enough MPs to back his main budget before the end of the year.

The prime minister remains adamant that the nation’s deficit must drop to 5% of GDP next year, after rising to a forecasted 5.4% in 2026. 

“The budget we are proposing entails a recovery effort of €54 billion. We have opted for fiscal stability to support economic activity, employment, and purchasing power. This requires the state to lead by example: it is setting itself the strictest and most demanding target seen in many years.” 

You can watch the full address in the video below.