Fuels: prices at the pump continue to fall, diesel down 9 cents


After soaring in mid-November following the planing of fuel discounts, prices are down for the third week in a row.

Fuel prices continue to fall. For the third consecutive week, the liter of gasoline and diesel decreased last week, according to the latest data from the Ministry of Energy Transition, published on Monday.

The decline was significant last week, since diesel lost nearly 9 euro cents, to stand at 1.73 euros per litre. On the gasoline side, the liter of unleaded 95 (SP 95) fell by 4 cents (1.69 euro), that of unleaded 95-E10 by 5.5 cents (1.64 euro) and that of unleaded 98 of 5 cents (1.74 euro).

Prices at the pump had soared in mid-November following the planing of discounts on fuels from the State and TotalEnergies, respectively from 30 to 10 cents, and from 20 to 10 cents. Today, gasoline prices have almost returned to their pre-rebate reduction level, to within a few cents, while diesel prices have fallen well below (-7 cents). For diesel, you even have to go back to the end of September to find such a low price.

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Price development uncertainties

This downward trend in fuel prices, observed since mid-October (excluding the rise in prices following the reduction in rebates), is mainly due to the decline in the price of oil, caused by the fall in world demand for gold black. Last week, the price of Brent crude from the North Sea, a reference in Europe, saw its price fall again by 4 dollars, to now cost nearly 81 dollars. A month ago, it still cost nearly $97.

Many uncertainties remain on the evolution of prices in the coming weeks. On the one hand, fears of a global recession and the evolution of the Covid-19 pandemic in China could drive prices down. But, on the other hand, the rebates on fuels from the State and TotalEnergies will disappear on 1 January. Enough to mechanically increase prices at the pump. To help the poorest households cope, the government has announced a gesture via a fuel check for 100 euros. In addition, the entry into force of the first part of the European embargo on Russian oil – which has affected purchases of crude oil by sea since last week – could also push prices up, even if the experts show themselves reassuring.



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