The average price of a litre of diesel in service stations in France now exceeds 2.20 euros. This amount has increased by 8 cents in a week, and nearly 50 cents since the beginning of the conflict in the Middle East.
This further increases pressure on the government to strengthen its assistance in the face of soaring fuel prices. According to the latest weekly data published by the Ministry of Ecological Transition this Monday, pump prices in France have risen again last week. This marks a fifth consecutive week of price increases, bringing diesel to a price never seen before since these data have been compiled. That is since 1985.
The average price of a litre of diesel, the most consumed fuel in France (about 68% market share), now exceeds 2.20 euros (2.1888 euros). Last week, it increased by another 8 cents. This represents an increase of almost 50 cents since the beginning of the conflict in the Middle East at the end of February. As for unleaded petrol 95-E10, it now exceeds 2 euros per litre (1.9712 euros), increasing by about 3 cents last week. Since the first Israeli-American strikes on Iran, it has increased by about 26 cents per litre, which is half the increase of diesel.
A difference explained by the greater European dependence on imports for diesel, particularly from the Middle East. In addition, the lower taxation of diesel compared to petrol – taxes represent less than 45% of diesel compared to over 50% for petrol – means that diesel is “more directly linked to the price of oil”, as Patrice Geoffron, director of the Center for Geopolitics of Energy and Raw Materials (CGEMP) at Paris-Dauphine University, recently explained.
The Strait of Hormuz still blocked
This ongoing rise in pump prices is obviously linked to the rise in oil prices, soaring due to the near-paralysis of the Strait of Hormuz, a strategic point for global oil supply. Last week, the price of a Brent barrel of North Sea, the global benchmark for this market, increased by over 2 dollars to reach 110 dollars, compared to about 70 dollars before the start of the war in the Middle East. This Monday, it continued to rise and was trading at around 115 dollars.
Despite the price surge at the pump, the government currently refuses any general support measures for fuels, ruling out any tax cuts or price caps – measures implemented by some of our neighbors. The Minister of Transport, Philippe Tabarot, warned on Europe 1 on Monday, “The checkbook, in general, cannot be used for all our fellow citizens.”
On Friday, the government announced a series of “targeted” aid measures for the sectors most affected by the soaring fuel prices: road transport, agriculture, and fishing. Professionals find these measures insufficient and to express their frustration, road transporters launched actions last weekend. They organized a slow-moving operation on the Paris ring road on Monday morning, with more actions planned in the coming days across France, particularly in Marne on Tuesday.
