In the wake of oil barrel prices, fuel prices have been falling for several weeks.
Fuel prices at the pump, a flammable subject in the early legislative election campaign, have continued to fall in France since April, according to figures published by the Ministry of Ecological Transition.
At service stations, 95 unleaded petrol was priced at 1.84 euros per liter on average last week, a drop of 3 cents compared to the previous week, according to figures decided on Friday and published Monday. The super unleaded 95-E10 sold for 1.80 euros (-7 cents).
Diesel rose by 9 cents to 1.68 euros per liter, after several weeks of decline. Average diesel prices in June are down 5.46% since April, a similar drop for 95 unleaded gasoline and 95-E10 (around -5%). The downward trend since April “follows the evolution of the barrel of oil”, underlined Francis Pousse, president of the professional union Mobilians (independent service stations), interviewed by AFP.
“Relatively stable” prices in the coming weeks?
In mid-April, the barrel of crude oil reached a peak of $92, the highest level since October, amid fears of a possible spread of the conflict between Israel and Hamas to neighboring countries. Since then, the barrel of crude has returned to “usual levels, between 80 and 90 dollars” in recent weeks, despite recent decisions by the OPEC cartel to maintain production cuts in force to support prices.
Although falling, the price of fuels – along with those of gas and electricity – is fueling the debates in the battle for the legislative elections while the surge in energy prices since the post-Covid recovery and even more since the war in Ukraine has largely fueled inflation and weighed on the budgets of households and businesses. Proposals have flourished with that of the National Rally to reduce VAT on fuel to 5.5% while the New Popular Front (united left) is calling for a price freeze by decree.
Concerning the evolution of prices between now and the big vacation departures, Francis Pousse of the Mobilians union refuses to make forecasts, saying however he is “rather confident at least in stability” of prices. Even if peaks beyond 90 dollars are still possible, “we could continue to observe a period of relatively stable prices”, underlines Olivier Gantois, president of the oil industry union Ufip Energies et Mobilités.
