Fuel prices reach new highs in France

Last week, the diesel liter price averaged 1.74 euros versus 1.81 euros for the SP95 and 1.88 euros for the SP98. Never before seen levels.

The inflation of the refueling bill, which has been going on since the beginning of the year, worries drivers as well as officials. Fuel prices have continued to rise in recent days, according to the latest data released by the Ministry of Ecological Transition on Monday. Last week, a liter of diesel increased four cents to a historic record 1.7415 euros, up for the seventh week in a row.

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In detail, the dynamics brings the refueling bill to a never-before-seen level. The SP95 liter crosses the 1.8 euro limit at 1,833 euros against 1.8816 euros of the SP98 and about 1.8 euros per liter of the SP95-E10. By comparison, a liter of diesel is currently 15% more expensive than in the “Crisis” crisis.yellow vestsAt the end of October 2018 and that of SP95 is 17.5% higher than at the same time. All prices shattered their historical peaks. The increase is also remarkable compared to the same period of the previous year, reaching 27% for diesel, 23% for SP95 and 22% for SP98.

The increase is due to the price of raw materials: Brent traded on average at around $87 a barrel in January, the highest level in at least five years. Enough to increase the final price paid by the consumer: According to Ufip, the raw material represented last week represented 37% of the final price for a liter of diesel paid for 1.74 euros and 34.5% for a liter of SP95.

The prices of many gas stations listed by the Ministry of Ecological Transition are particularly high, sometimes even exceeding two euros per liter. This is particularly true in a few districts of Paris and elsewhere in France, regional media reported.

Further increase expected

The bad news is that the current dynamic should not be interrupted anytime soon as the Ukrainian crisis has caused the Brent price to rise in the markets. On Monday, the barrel traded above $100, which is much higher than in January. Therefore, the bill must continue to escalate, as European Commissioner Thierry Breton agrees:We shouldn’t hide it, there will be impacts on hydrocarbon prices, possibly also in the food industry.“, ex-minister declared at LCI on Monday morning. Inflation may be restrained”shock absorberscollected in », «a toolboxHe added that it was prepared by the European Commission.

Price increase will continue”sometimes“It raises fears of an additional increase in bills in the coming weeks,” the Brussels representative noted. The new economic situation is also undermining the system put in place by the executive to compensate for the increase in fuel prices: the one hundred euro inflation allowance announced at the end of 2021 or the increase in the announced mileage allowance scale? Jean Castex, a month ago, runs the risk of not using these two devices due to current events. For now, Bercy is not commenting on new measures to support purchasing power.

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