# TotalEnergies is under fire for its profits from oil price spikes due to the war in Iran.

*business · news · 2026-05-29 · MarketScreener*

## Key points

- TotalEnergies' CEO claims French citizens prefer fuel price caps over a superprofit tax.
- Pouyanne says a poll supports citizens' preference for direct price cap benefits at the pump.
- He states TotalEnergies is the only company voluntarily capping fuel prices in France.
- Pouyanne suggests government dropped the supertax plan due to public preference for price caps.

PARIS, May 29 (Reuters) - French citizens would prefer energy companies to cap fuel prices at the pump rather than pay a superprofit tax, TotalEnergies' Chairman and CEO Patrick Pouyanne told the company's annual general meeting on Friday. He was responding to a climate NGO representative asking whether the company should contribute more to ease price shocks for consumers. TotalEnergies is under fire for its blockbuster profits from oil price spikes due to the war in Iran, with French politicians pushing for a supertax on the firm to help ease prices. Pouyanne said a poll had shown that French citizens preferred a price cap, without saying which poll he was referring to. "French people have already expressed themselves, they said they preferred the direct benefit of a capped price at the pump rather than a supertax later that the government may or may not use to finance the energy transition," Pouyanne said. "By the way, I believe that's why the government walked back its intention to impose a supertax ... We are the only company to voluntarily cap our fuel prices in France, and the more we sell the more we lose," he added. (Reporting by America Hernandez;Editing by Sudip Kar-Gupta and Susan Fenton) By America Hernandez

**Companies:** TotalEnergies
**Countries:** France

[Read the full story on MarketScreener](https://www.marketscreener.com/news/french-citizens-prefer-fuel-price-cap-to-superprofit-tax-says-totalenergies-ceo-ce7f5ddbdf81f12c)

---

Canonical: https://newsio.io/n/914815d9-eafc-4173-ad2d-8d17df9b54a4/totalenergies-is-under-fire-for-its-profits-from-oil-price-spikes-due-to-the-war
Summarized by Newsio from MarketScreener. https://newsio.io/how-it-works