After having demonstrated the beneficial effects of the tariff shield on the level of inflation in France, INSEE observed on Thursday that the French were massively using fuel during the application of the various reductions granted on the liter.
All over France, service stations are dry. Due to strikes on the one hand but also due to overcrowding because of the additional reductions granted by Total for example.
Currently, the government is offering aid in the amount of 30 euro cents per liter until October 31. From November 1 to December 31, the amount will be 10 euro cents. But, at the same time, the customers of the oil company Total, benefit from an additional boost of 20 cents until the end of the month, then 10 additional cents until the end of the year.
A peak in transactions of 50% on April 1
A document from INSEE published on Thursday mentions transactions by CB bank card which make it possible to follow, on a weekly or even daily basis, changes in certain parts of household consumption. Thus, on March 12, when the first discount at the pump of 18 cents is announced by the government for April 1, the daily fuel costs drop suddenly. They go up by 50% from April 1st. Ditto, on September 1, when the state rebate goes back to 30 centimes per liter, expenses immediately increase by 35%
The rate of fuel expenditure by CB bank card, corrected for price changes, is marked by daily shocks linked to government announcements on the discount at the pump put in place since the second quarter of 2022 to limit the rise in fuel prices , writes Insee.
Nobanques: the cheapest offers to control your budget
Previous work by the organization had shown that, while inflation in 2022 should reach 5.2%, driven by the rise in energy prices, the implementation of the tariff shield, including on fuels, has saw a price increase of 8.4%. In 2022, successive discounts limited the increase in the price at the pump between the second quarter of 2021 and the second quarter of 2022 to 34%, instead of 46%, reported the authors of the study.