French Prime Minister, Sébastien Lecornu, on Wednesday attempted to address several simultaneous issues in a nationwide speech. He referred to the concerns of protesting students and also announced the release of strategic fuel reserves to reduce prices.
Response to Students' Concerns
Lecornu stated in this speech: "The anger of the youth is not unfounded." He announced that the government's initial policies to address the protesters' concerns, including dilapidated schools, a shortage of substitute teachers, and calls for more manageable programs, will be announced later this month. The government will also consider students' opinions through a newly launched public platform.
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Rising Fuel Prices and Government Actions
However, discontent in France goes beyond schools. The rising fuel prices, which have arisen following the U.S.-led war in Iran, have added to concerns about the cost of living. In light of these price increases, online calls have been made for a protest similar to the "Yellow Vests" on October 17.
Lecornu also announced: "Last Friday, [the G7] decided to release strategic fuel reserves... As part of this effort, we will allocate 10 million barrels of diesel from our reserves to distributors in France." He claimed that this increase in supply would reduce the price of diesel by between €0.12 and €0.18 per liter.
France still has 8 million barrels of petroleum products to release, which was approved under a broader agreement following the outbreak of war in Iran, and he privately indicated on Wednesday morning that an additional 2 million barrels of diesel might also be released. It is unclear whether the figure of 10 million includes this prior commitment.
The French Ministry of Energy did not respond immediately to requests for comment.
Lecornu also acknowledged French farmers who have repeatedly protested in recent years to draw attention to the economic issues facing their sector. He said: "Our farmers are among those most affected by these crises."
The Prime Minister announced that new measures to support an emergency bill for farmers, which includes over €1 billion in costs, will be unveiled on Thursday.
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