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Hollande Pledges to Cap Oil Prices for Three Months If Elected

Francois Hollande, the Socialist candidate in France’s presidential elections, said he would block retail oil prices for three months before revamping the tax system for energy.

Frontrunner Hollande said that if he is elected in May, the state will cap oil prices temporarily, without providing details on the level.

He also said his government would overhaul the tax system and levels, including the value-added tax, on oil.

Hollande spoke in an interview on TF1 national television

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