Good news, the trend is still downward in fuel prices, while the barrel of Brent is falling.
We know only too well that the price of fuel still remains very high for most motorists.
Fuel is running low
But for several months, things have been gradually improving, especially after the big period of increase with the war in Ukraine in particular. Thus, this Monday, October 21, the world oil markets showed the price of a barrel of Brent barely above $73, compared to $69 for West Texas Intermediate (WTI). These values, although slightly increasing, reflect a recent sudden fall in prices, as indicated by the specialized site Barrel Price. And good news, because this price change, which occurred in the space of a few days, could have repercussions on motorists’ wallets in the days to come. Indeed, over the past ten days or so, Brent and WTI have both lost six dollars per barrel, a decline that has been particularly abrupt. Between October 11 and 14, these two major references saw their prices drop by four dollars in the space of just three days. Very good news!
A lasting trend
Traditionally, an increase in crude oil price results in an increase in fuel prices, as has been observed in recent weeks. Both gasoline and diesel have seen their prices rise, to the great dismay of consumers, forced to pay more to refuel their vehicles. However, the opposite is also true: a drop in the price of a barrel ultimately leads to a reduction in prices at the pump. This prospect will undoubtedly delight motorists who, after having suffered several consecutive increases, can hope for a reduction in the bill in the days or weeks to come. It must nevertheless be emphasized that these adjustments are not immediately reflected. In fact, service stations generally take a few days to adapt their prices according to changes in the oil market. So, if the current trend continues, drivers could benefit from lower prices at the pump before long.
They will then be able to benefit from this drop during this school holiday period in France!
France
