For the French, the cost of refueling continues to cost more and more.
The refueling stage will continue to irritate motorists in the weeks to come. According to the latest data published by the Ministry of Ecological Transition, fuel prices have continued to break records in recent weeks. Thus, the liter of diesel now costs on average 1.7000 euro, up two cents compared to the previous week, while the SP95-E10 sees its price settle at 1.7490 euro per liter (+2 cents about). The increase is comparable with regard to the SP98, since the price per liter is now 1.8370 euro.
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These prices now greatly exceed the levels observed in 2018, which had set fire to the powder at the time of the “yellow vests“. Faced with this inflation, the government is now trying to contain an increase that is weighing on household budgets. Transport Minister Jean-Baptiste Djebbari is indeed hardly optimistic about the evolution of oil prices: “the price of gas is expected to start falling in the second half of next year. But the price of oil is expected to remain quite sustainably high“, he thus explained at the microphone of RMC this Monday, February 14.
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Faced with this burden for French households, the executive had implemented at the end of 2021 a “inflation checkwhich was distributed to French people earning less than 2000 euros per month. The executive also called on the oil companies to make a gesture to relieve the bill, through the voice of Prime Minister Bruno Le Maire. Last week, TotalEnergies thus unsheathed its operation for the purchasing power of rural families: they can benefit from a reduction of 10 centimes per liter purchased in a gas station in the countryside. Several large retailers, which control a large part of the territory’s petrol stations, have also implemented “at cost priceon fuel.
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Global Market Tensions
Oil prices are under pressure globally due to the economic recovery post-sanitary restrictions, but also by growing tensions between Ukraine and Russia, which could threaten oil supply. The “fear of escalating tensionsin the crisis, on a scale not seen since the end of the Cold War, thus pushed the price of Brent above the bar of 95 dollars per barrel, thus explained to AFP Victoria Scholar, analyst at Interactive investor, at the beginning of the week.
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With this crisis on the border, there is the risk of an invasion followed by sanctions against Russia. Such a scenario could cause supply disruptions and with them, a new surge in prices.