The price of oil surged Monday, climbing as much as 30% in a matter of hours to briefly approach $120 a barrel, as escalating conflict in the Middle East raised fears of supply disruptions. The spike followed strikes in Iran over the weekend that have severely hampered traffic through the Strait of Hormuz, a critical waterway for global oil and Liquefied Natural Gas shipments.
French government spokesperson Maud Bregeon cautioned against anticipating immediate aid measures to offset rising fuel costs at the pump, stating on RTL radio that it was “too early to talk” about such interventions. “We are studying all scenarios,” she added, noting that a potential release from France’s strategic petroleum reserves was among those being considered and would be discussed at an upcoming G7 finance ministers meeting.
The Financial Times reported that G7 finance ministers are similarly considering a coordinated release from their respective strategic petroleum reserves.
The price increases have drawn criticism from across the French political spectrum. The Rassemblement National has called for tax cuts on fuel, while La France Insoumise has advocated for price controls.
In response to the rising prices, Prime Minister Sébastien Lecornu announced Sunday a “plan exceptionnel” of 500 inspections of gas stations by the Directorate General for Competition, Consumer Affairs and Fraud Prevention (DGCCRF) between Monday and Wednesday. The aim is to prevent “abusive price increases at the pump.”
Bregeon indicated that further discussions with fuel distributors are planned with Minister of the Economy Roland Lescure later this week, following an assessment of the inspection results. She acknowledged that while some distributors are acting responsibly, “Notice, obviously, prices that have been raised too early” and “in some cases abuses.”
“Our responsibility is to ensure that there are no abuses, first of all with regard to distributors and more generally with the entire value chain,” Bregeon stated. “We will not hesitate to point the finger at those who would seize advantage of the situation.”
Despite the price volatility, Bregeon assured the public that there is “no risk of shortage” of oil, gas, or electricity. While the price of European gas rose approximately 30% on Monday, she emphasized that France’s situation differs from that of 2022, due to the full operation of its nuclear fleet and reduced reliance on Russian gas.
The surge in oil prices comes as AFP photographer Sameer Al-Doumy, who documented the situation at an Esso station in Rely, northern France on March 5, 2026, continues his work covering global events. Al-Doumy, a Syrian-French photojournalist born in 1998, has received numerous international awards for his coverage of conflict and humanitarian crises, including the 2022 ICRC Humanitarian Visa d’Or Award.
