The first economic effects of the war in Ukraine should soon be felt. start with an increase, in the coming days, in the prices of gasoline and raw materials.
As the Russian offensive continues in Ukraine, the first economic effects of this conflict should be felt. As reported European 1 on Wednesday March 2, with concerns about the supply of energy and raw materials, oil prices reached levels not seen in ten years. Consequence: gasoline prices are expected to rise in the coming days in France.
However, as our colleagues have explained, the price of crude represents only a third of the price of fuel. A second third corresponds to production costs and the last third to taxes. Several countries of the International Energy Agency would then have announced the placing on the market, in the coming weeks, of 60 million additional barrels in order to limit this surge in oil prices.
A limited impact
However, this solution would only have a limited impact. Saudi Arabia having reaffirmed its cooperation with Russia, OPEC + should limit its daily production to 400,000 barrels maximum. Which means there will be no not many alternatives to Russian oil explained Pierre Terzian, energy specialist.
Last week, the prices of road fuels sold in France had reached new records. The liter of diesel was worth 1.7415 euros on average according to figures from the Minister of Ecological Transition. This is 3.64 cents more than the previous week. The super unleaded 95 was worth 1.8133 per liter on average, or 2.09 cents more. Unleaded 95-E10 increased by 3.79 cents, climbing to 1.7997 euros.
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Finally, the economic consequences of the conflict should also impact raw materials. As our colleagues from Europe 1 have specified, the prices of wheat and maize are breaking records on the European markets. Not to mention soybean and palm oils, which are recording historic increases.