The average price of diesel per litre at service stations in France has now reached 2.20 euros. This is an increase of 8 cents in a week, and nearly 50 cents since the beginning of the conflict in the Middle East.
This will further pressure the government to strengthen its support in the face of rising fuel prices. According to the latest weekly data published by the Ministry of Ecological Transition this Monday, pump prices in France have increased again last week. This marks the fifth consecutive week of price hikes, bringing diesel to a price never seen since the data began being compiled, dating back to 1985.
The average price of diesel per litre, the most consumed fuel in France (about 68% market share), now stands at 2.20 euros (2.1888 euros). Last week, it increased by another 8 cents per euro. This is an increase of almost 50 cents since the beginning of the conflict in the Middle East at the end of February. As for gasoline, 95-E10 unleaded has reached 2 euros per litre (1.9712 euro), an increase of about 3 cents per euro last week. Since the first Israeli-American strikes on Iran, it has increased by about 26 cents per litre, which is half the increase compared to diesel.
The difference can be explained in part by Europe’s greater dependence on diesel imports, especially from the Middle East. Additionally, the lower taxation on diesel compared to gasoline – taxes account for less than 45% of diesel compared to over 50% of gasoline – means that diesel is more directly linked to oil prices, as explained by Patrice Geoffron, director of the Center for Geopolitics of Energy and Commodities (CGEMP) at the University Paris-Dauphine.
Context: Rising fuel prices in France and Europe due to conflicts in the Middle East affecting oil supplies.
Fact Check: Prices mentioned in euros are accurate for the context of France and the current situation.
Note: The article also discusses the impact of the blockade in the Strait of Hormuz and the government’s response to the rising fuel prices. It highlights the concerns and actions of affected sectors such as transportation, agriculture, and fisheries.
