The price of SP95-E10 gasoline, the most commonly used fuel in France, is nearing its historical high of 2.13 euros per liter, which was recorded in 2022. As of the latest data, the average price stands at 2.09 euros per liter, the highest since the start of the war in the Middle East. According to a calculation by AFP using government data, the price crossed the symbolic two-euro threshold in mid-August, driven in part by a recent rise in oil prices. This is 36 cents higher than the price before the Middle East conflict began. The previous record for SP95-E10 in France was set during the war in Ukraine in 2022, when the average price slightly exceeded 2.10 euros per liter, with some readings reaching around 2.13 euros.
The price of a barrel of Brent crude oil, a key benchmark for global oil prices, has risen from nearly 70 dollars at the beginning of July to around 95 dollars as of Friday. This increase has been fueled by renewed tensions in the Middle East. At the same time, refining margins for petroleum products remain at historically high levels, contributing to higher fuel prices at the pump. Diesel, the most consumed fuel in France, is now priced at 2.259 euros per liter on average, up more than 1.34% compared to the previous week. Although it has not yet reached its peak of over 2.30 euros per liter from April, diesel is 31.3% more expensive than it was at the end of February.
Gas station prices have been tracked since 2006, with stations required to report their prices to the government website www.prix-carburants.gouv.fr. This data is then made public and analyzed by media outlets like AFP. In response to the rising fuel costs, the government announced on Thursday that it would extend sectoral aid for two more months, excluding transporters, and also extended the eligibility period for the "large drivers" program for low-income households by one month.
Michel-Edouard Leclerc, president of the strategic committee of E. Leclerc, commented on Friday morning on LCI that "we are in the maximum waters" regarding fuel prices. He suggested that if the high prices persist, public authorities may be forced to consider reducing fuel taxes to ease the financial burden on consumers.
French Fuel Prices Approach Historical Highs Amid Middle East Tensions
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Original sources:
- 🇫🇷BFMTV



