French Government Faces Backlash Over Fuel Taxes Amid TotalEnergies' Record Profits

In late October 2026, the French government's firm stance on maintaining high fuel taxes has ignited political controversy, coinciding with soaring fuel prices and record profits for TotalEnergies. Economy Minister Roland Lescure's statement that fuel taxes help finance infrastructure projects—and remark that "It’s not a tax that keeps me awake at night"—sparked strong criticism from opposition parties, particularly the Rassemblement National (RN).

Lesure's remarks came amid fuel prices nearing €2.40 per liter, a significant burden for many workers and families, as highlighted by RN leader Marine Le Pen. The opposition labeled the minister's comments as "disconnected from reality," emphasizing the growing financial strain on households. The government, however, insists that reducing or removing fuel taxes is financially unsustainable and has expressed preference for releasing 10 million barrels of diesel from strategic reserves to ease price pressures instead.

Further complicating the debate, economist Pierre Rondeau challenged the government's justification by pointing out that declining fuel consumption undermines claims that fuel taxes are dedicated to investment financing. Meanwhile, construction workers and citizens report monthly budget shortfalls of €500 to €600, underscoring the social distress linked to high energy costs.

Adding to public discontent is the recent announcement by TotalEnergies of a record net profit of $8.3 billion in the third quarter of 2026—more than double the $3.7 billion from the same period last year. CEO Patrick Pouyanné credited this performance to high hydrocarbon prices fueled by geopolitical conflicts and the company's integrated business model. The refining and chemicals segment alone posted historic earnings of $3.5 billion.

These profits, achieved amidst diesel prices soaring above €2.35 per liter, have intensified calls from NGOs and political groups for a "superprofits" tax on energy companies to support public services and accelerate ecological transition. Protests targeting the National Assembly have been planned as tensions rise between economic realities and public welfare concerns.

Currently, the government balances maintaining its fiscal stance on fuel taxes with pressures to address the socio-economic impacts of energy inflation. How it navigates this challenge will be closely watched as France approaches critical budget discussions and broader debates on energy policy and social equity.