2023-11-03 09:45:00
INFOGRAPHICS – Prices have been rising again for a week after having fallen by six to ten cents on average since the end of September.
The respite was only short-lived for motorists… Pump prices experienced yet another rebound – shortly after a drop linked to “operations”.at cost price» carried out by large retailers – according to calculations by Fig Data, carried out using public data from the Ministry of Energy Transition. This increase comes in a very tense economic context, with inflation at 4% over one year in October and prospects clouded by the outbreak of a conflict in the Middle East which is raising fears of a new oil shock.
Also read: Gasoline or diesel: where to find the cheapest fuel?
In detail, a liter of unleaded 98 costs on average 1.9384 euros, almost a cent more than last week. Same trend for unleaded 95 (1.8983 euros) and E10 (1.8601 euros). All three returned to their levels at the end of July. This is not the case for diesel, whose prices have increased by three cents in two weeks (1.8888 euros) and which now appears more expensive than E10. A situation that has not happened since February 2023.
In summary, over the whole of 2023, the price of the SP-98 increased by 2.2%, that of the SP-95 by 2.7% and that of the E10 by 2.8%. Diesel fuel is almost stable (-0.3%) compared to last January when it was at the time the most expensive fuel on the market.
The failure of “selling at a loss”
As a reminder, since March 1 and until the end of 2023, the prices of diesel and gasoline are capped at 1.99 euros at TotalEnergies group stations. A gesture made at the request of the government. The Minister of the Economy, Bruno Le Maire, also asked the oil company to extend the discount “beyond December 31“. A request accepted by Total which will apply this price throughout 2024. On the mass distribution side, several brands have announced sales operations at cost price, which has a rather reduced impact because the margins hardly exceed one or two cents, according to sector unions.
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These actions come after the failure to authorize “selling at a loss”. The executive wanted the stations to be able to sell fuel below its purchase price but encountered a clear refusal from major retailers. In the end, the government preferred to communicate on “nearly 120,000 operations» at cost price until the end of December.
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Oil around 90 dollars
Prices at the pump follow changes in the barrel of Brent. The latter reached its annual record at the beginning of the fall at $96.55 at the close in London before falling again. This was without taking into account the outbreak of a new conflict in the Middle East, between Hamas and Israel, which aroused market concern and a surge in prices in a context already weighed down by Saudi and Russian. “Although contained for the moment, the conflict is putting the oil market on edge… To be observed if there is a risk of spillover into a wider conflict“, explains John Kilduff of Again Capital. The barrel was worth $88.34 this Friday morning.
Methodology :
For national or regional figures, we used public data available on prix-carburants.gouv.fr, which centralizes declarative data from service stations. Only service stations in mainland France, excluding Corsica and DROM, which sell more than 500 m3 of petroleum products per year are taken into account, excluding E85 and LPG, which are less used.
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