May 24, 2022

Fuels: prices have reached a worrying new record

Fuel prices at the pump reached a new record last week, with diesel in particular exceeding 1.60 euros per liter in several service stations.

This is a first in France. According to the official reports of the Ministry of Ecological Transition, fuel prices have never been so high in the country, while the cost of oil is currently experiencing a significant increase.

In detail, the price of diesel, the most used fuel in France, sold on average last week at 1.6214 euros per litre.

A significant increase when its price was still on average the previous week, that of January 7, at 1.5583 euros per litre. A threshold similar to that of October 15, which was the previous record.

Similar prices in 2018 during the yellow vests

These prices are striking insofar as they are almost the same as those observed in the fall of 2018. At the time, the rise in fuel prices had caused thousands of people to take to the streets, giving life to the vest movement. yellow.

The price of a liter of diesel at the pump then showed 1.5331 on October 12, 2018, or 0.0883 euros less than the current price (average of the different prices charged according to the different stations, editor’s note).

In addition to the increase in the price of a barrel of oil, which is why fuel prices are rising, this increase is also explained by the fluctuation of exchange rates and the application of taxes. Two parameters that combine themselves with demand and available supply.

As a reminder, Prime Minister Jean Castex allocated last October an “inflation allowance” of 100 euros accessible to 38 million French people, while the price of fuel had already increased considerably.

To see now, and in the context of the presidential election, if additional measures will be proposed.