France moves to cut gasoline, diesel prices

The French government and major fuel suppliers have agreed to take steps aimed at lowering costs to consumers of gasoline and diesel.

Finance Minister Pierre Moscovici said the government will trim taxes on vehicle fuel by 3 euro cents/l. for 3 months beginning Aug. 29.

Refiner-marketers in France agreed to lower prices by 1-3 euro cents/l. against unspecified base levels.

During his recent election campaign, President Francois Hollande promised to lower fuel prices.