The price of fuel oil has fallen sharply in recent weeks, reaching levels not seen for two years. This is good news for individuals who are taking advantage of the opportunity to fill up their tanks at a lower cost, and for suppliers, whose order books continue to fill up, such as that of Nicolas Espel in the Somme.
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Since mid-September, the price of fuel oil has returned to its pre-war level in Ukraine due to a good balance between supply and demand. A significant drop well noticed by individuals. In the Somme, where more than 17% of main residences are heated by this fuel according to INSEE, there is a rush on fuel oil.
“The price is going down so everyone wants to fill up their tank, especially before winter. The drop in temperatures last week has also accentuated this effect.“, notes Nicolas Espel, fuel oil merchant.
Currently, we are at €1.07 per liter, so yes, it is interesting. Last year, at the same time, we were around €1.30.
Nicolas Espel, fuel oil merchant in the Somme
Every day, Nicolas Espel comes to fill up the tanks of individuals, like this Wednesday, September 18 in the morning at Dominique Plesant’s. This loyal customer will pay 200 euros less for his full tank than in 2023. “It’s definitely very interesting compared to last year. Everything is good to take“, sums up this resident of Lignières-Châtelain.
Nicolas Espel fills up people’s fuel tanks and this year it’s cheaper than last year.
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© FTV
And for the supplier, the day is just beginning. His order book is full with between 13 and 18 appointments per day, mainly individuals who want to fill up their tank.
“We have five to seven more customers to deliver to every day and this has been going on for about a month.“, observes Nicolas Espel. “I think the rest of the year will be a little quieter, but it all depends on the weather conditions. If we have a strong winter, we will work a lot.“, he adds. In recent years, due to milder winters and high prices, some customers were only filling half tanks.
With the upcoming cold weather, Michel Sandri, one of Nicolas Espel’s clients, believes that “it’s really the moment“to fill his tank.”In any case, we are forced to do it regularly because we have a house that is poorly insulated and quite a big consumer. So if we are going to do it, we might as well take advantage of the favorable conditions“, the Samarian insists.
A drop, but for how much longer?
But the situation may not last. Nicolas Espel reminds us that the market is volatile. Prices can increase at any time, as winter approaches. Note that since July 1, 2022, it is prohibited to install an oil or coal boiler in order to reduce greenhouse gas emissions.
Another piece of good news for the French, this time concerning electricity prices: the Energy Price Regulation Commission has announced a reduction inof at least 10%“regulated electricity prices for February 1. More than 20 million households are affected.
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