ISTANBUL

France may extend financial support for transport companies facing rising fuel prices if the situation continues in the coming months, French Transport Minister Philippe Tabarot said Monday.

"These 50 million euros may be renewed if the situation continues, in May, in June... I hope things will stop," Tabarot told broadcaster CNews. "We are talking about one month. When I talk to you about 50 million, it is for one month."

Tabarot was responding to criticism from transport companies, which said the support was limited compared to measures introduced after the outbreak of the Ukraine war in 2022. "But we cannot yet compare with what was done during the Ukraine period. And it is true that the budgetary situation of our country is not the same," he added.

His remarks came as the European Road Transport Organization (OTRE) staged a slow-moving protest on the Paris ring road.

On Friday, the government announced aid of around 50 million euros ($57.4 million) for April to support transport companies hit by a sharp rise in fuel prices. The measures include deferred social security contributions and extended tax payment deadlines. Authorities also introduced an exceptional fuel subsidy equivalent to 20 euro cents per liter, limited to April, targeting small and medium-sized road transport companies facing cash flow difficulties.

As the US-Israeli war with Iran entered its second month and continued to strain global energy supplies, Australia was among the first countries to release oil from its strategic reserves. It also ordered emergency fuel reserves from the US for the first time in decades.

Amid a sharp rise in domestic prices, the Australian states of Victoria and Tasmania on Sunday announced free public transport services to ease the burden on residents.