Published by Global Banking & Finance Review®
Posted on March 23, 2026
2 min readLast updated: March 23, 2026
Add as preferred source on GoogleFrance’s Energy Ministry is evaluating boosting capacity at its five refineries to ease diesel and fuel price spikes amid disruptions from Iran’s effective closure of the Strait of Hormuz, which handles some 20% of global oil flows.
PARIS, March 23 (Reuters) - The French Energy Ministry has started evaluating the possibility of increasing the capacity of the country's five oil refineries in a bid to soften the impact of the conflict in Iran on energy prices, it said on Monday.
The ministry is particularly looking into fuel and diesel, it said.
"There is no risk of supply disruption. However, there is market tension, particularly evident in the sharper rise in diesel prices compared to gasoline prices," the ministry told reporters.
France imported about 50% of its diesel consumption before the start of the war, it said.
Prices and supply of crude oil and refined products have become extremely volatile after Iran effectively closed the key Strait of Hormuz, through which about a fifth of global oil and liquefied natural gas flows, in response to strikes by the U.S. and Israel.
(Reporting by Forrest Crellin, Inti Landauro, Editing by Charlotte Van Campenhout)
To alleviate the impact of the Iran conflict on energy prices and address market tension, especially in diesel prices.
According to the Energy Ministry, there is no risk of supply disruption, but market tension exists.
The ministry is specifically looking into fuel and diesel refining capacities.
The volatility was triggered by Iran closing the Strait of Hormuz following U.S. and Israeli strikes.
France imported about 50% of its diesel consumption before the start of the war.
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