Categories: News

Fuel: TotalEnergies posts insane profits

The price of fuel remains high, despite this, TotalEnergies has just announced their substantial profits.

Rising results

If you’ve been using your car frequently, you’ve probably noticed the slight increase in fuel prices in recent weeks. This trend is expected to continue in the coming months as demand rises and oil production declines. However, this has not prevented oil companies from making significant profits. TotalEnergies, for example, has announced a staggering profit of $21.4 billion, equivalent to 19.8 billion euros for the year 2023. This represents a 4% increase from the previous year. It’s worth noting that fuel is the main source of revenue for the French company.

Fuel, but not only

Patrick Pouyanné, the company’s director, emphasized the growing share of renewable energies in TotalEnergies’ results. He mentioned the growth of hydrocarbons, particularly liquefied natural gas (LNG) and electricity. Despite these impressive figures, analysts had hoped for even higher profits, especially as the price of gasoline and diesel continues to rise. However, some experts predict a slight decrease in the coming weeks, as part of the increase in diesel prices has already been offset. Last month, the price of a liter of unleaded 95-E10 increased by an average of five cents, while that of diesel went up by almost seven cents.

Read also :
Ethanol: Everything You Need to Know About E85 (Case, Price, Advantages, etc.)
Three Tips for Paying Less for Fuel at the Pump
Fuel Price: The Government Does Not Want to Help the French More

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