RTRS:French govt, oil industry agree 6 cent fuel price cut
PARIS Aug 28 (Reuters) - The French government and energy industry have agreed to cut fuel prices by up to 6 euro cents per litre for three months to help drivers hit by a recent increase in prices, Finance Minister Pierre Moscovici said on Tuesday.
"Prices at the pump will fall by up to six euro cents - three cents for oil companies and three cents for the state," Moscovici told a news conference after talks with industry representatives.
The decision, which is due to take effect in the coming 24 hours, will cost the state at least 300 million euros ($375.49 million) in lost tax revenues, he said.
Total supply and marketing chief Philippe Boisseau said that the oil company would cut fuel prices in France by 2 euro cents per litre and 3 cents at motorway fuel stations.