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Fuel prices are on the rise again

2022-10-03T14:14:07.872Z


After a month of decline, diesel took, on average, + 3.6 euro cents per liter, and SP95-E10 gasoline + 3.1 euro cents per liter


After a month of decline, fuel prices are rising.

Diesel thus takes + 3.6 euro cents per liter to be displayed on average in France at 1.69 euro per liter, according to the latest weekly statement from the Ministry of Ecological Transition stopped on Friday, September 28.

For SP95-E10 gasoline, the increase is +3.1 euro cents, for an average price per liter of 1.51 euro.

Motorists had however become accustomed to this slow decline, resulting in particular from the double rebate in force since September 1.

First, the government rebate at the pump went from 18 cents to 30 cents per liter until the end of October.

And TotalEnergies, under pressure from the government, is offering an additional 20 cents to its customers.

The success of the rebate was such, moreover, that in recent days many motorists were struggling to find fuel available in the tanker's network.

A scarcity also due to strikes by employees in the refinery warehouses belonging to the French energy group.

Bad news, the price of a barrel of oil, too, threatens to start rising again.

And by extension, the prices in service stations, for motorists.

The price of Brent was displayed on Monday around 90 dollars, that is to say far from the peaks of last March, when it approached 120 dollars, but much more expensive than at the beginning of last week, when it was displayed at (only) 85 dollars.

“The price of a barrel of Brent is increasing, confirms Francis Pousse, the president of fuel distributors (excluding supermarkets) within the professional trade union of the automobile Mobilians.

Furthermore, we buy our barrels in dollars, and the euro-dollar exchange rate (1 dollar = 1.02 euro) is now unfavorable to us.

»

So, precisely, that the economic prospects darken, and with them, those of the demand for crude, the Organization of the Petroleum Exporting Countries (OPEC) could prepare a drastic reduction in its oil production.

This would have the effect… of making the price of a barrel even more expensive.

In short, the rise in prices at the pump could continue in the short term.

Source: leparis

All business articles on 2022-10-03

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