Fuel prices: new highs reached in early February

The prices of road fuels sold in France continued to rise towards new records last week, in the wake of crude oil prices, according to data from the Ministry of Ecological Transition published on Monday. « Soon, to refuel, it will be necessary to negotiate an authorization of overdraft with its banker , blew with irony a motorist in our columns Friday.

The liter of diesel reached 1.6995 euros on average, according to weekly figures from the ministry on Friday. This is still 1.41 cents more than the previous week. The liter of super SP95 was worth 1.7810 euros (+ 1.56 cents) and that of SP 95-E10 1.8366 euros (+ 1.56 cents as well).

The barrel of Brent over 96 dollars on Monday

Prices at the pump have not stopped rising in recent weeks in the wake of oil prices, driven by geopolitical tensions and the still limited supply from major producing countries. Prices for a barrel of Brent crude from the North Sea rose above 96 dollars on Monday – a peak not seen since 2014 – amid Western fears of a Russian invasion of Ukraine.

The rise in prices at the pump is significant for the government in the run-up to the presidential election and against a background of rising cost of living. Accompanying measures have already been announced for households (increase in mileage allowance, inflation allowance, etc.), while some distributors grant discounts to their customers, by offering fuel at cost price, for example.

On the highway, an even bigger rise

“We expect the price of oil to remain fairly high for a long time,” said the Minister Delegate for Transport, Jean-Baptiste Djebbari, on Monday on RMC. “What the experts have told us is that when you provide targeted aid for those who need it most, it’s more effective and you spend less public money,” he said. A reasoning in line with that of the Minister of the Economy Bruno Le Maire, who estimated on Friday that a reduction in taxes on gasoline or diesel “would be seen very little in the pocket of the French”.

On the highway, where the operating costs of gas stations are even higher than elsewhere, the price increase is even more significant. On average, a liter of diesel and gasoline are sold there for thirteen cents more than on national roads.

LP Infographic

The only way to remedy this for the consumer association Consumption, housing and living environment (CLCV): to bring new players, such as mass distribution (which owns 5% of stations on the motorway) into the market, to pull the price down. In the meantime, the wallet continues to suffer.

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