Fuels: at the pump, the price of diesel continues to fall

Towards a lull? Continuously rising since the start of the year, gasoline prices seem to be stabilizing. On the diesel side, the trend is more sinuous. After a surge of 10 cents between January and mid-February, its price per liter has since lost 5 cents, falling below the symbolic bar of 1.80 euros, according to calculations by Fig Data, made from public data from the Ministry of Energy Transition.

A blurred price dynamic which occurs in an already difficult economic context, with inflation around 5% in 2023 and forecasts clouded by the outbreak of the conflict in the Middle East, raising fears of a new oil shock.

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In detail, a liter of unleaded 98 costs on average 1.9340 euros, practically the highest since the start of 2024. The prices at the pump of unleaded 95 (1.8810 euros) and that of E10 (1.8499 euros) follow the same trend. Diesel, now largely under E10, has an average price of 1.7997 euros per liter in stations in France.

Over one year, the price of the SP-98 fell by 2.6%, as did that of the SP-95 (-2.7%) and the E10 (-2.5%). Diesel is also down 2.3%.

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As a reminder, since March 1, 2023 and until the end of the year, 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. He also announced, through Bruno Le Maire, that the fuel allowance of 100 euros intended for low-income workers will be implemented in 2024 only if prices “explode”, and approach €2 per liter. This compensation only concerned the lowest 50% of households but could be expanded if it was activated in 2024.

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. However, oil has since experienced a sharp decline, due in particular to fears about the Chinese economy. The recent announcement of major cuts in production for 2024 by OPEC as well as tensions in the Red Sea linked to attacks by the Houthi rebels have, however, caused black gold prices to rise again. Brent is worth $83.73 this morning in London.