Fuel prices: after a year of decline, will pump prices skyrocket again ?

Les prix des carburants vont-ils continuer à baisser ? MAXPPP – Patrick Lefevre

Alors que la baisse des prix des carburants continue de baisser depuis un an, les tarifs à la pompe pourraient bientôt repartir à la hausse

As has been the case for several months now, fuel prices continue to fall this Assumption weekend, according to data from the Ministry of Ecological Transition updated on August 9.

In recent days, the price of diesel has been on average around 1.66 euros per liter in France. Last year, at the same time, it was 1.82 euros, or 20 cents more than today, indicates Le Progrès. Diesel thus reaches its lowest price since May 2023 when prices at the pump were 1.65 euros per liter.

Diesel is not the only one, since the prices of SP95 (1.77 euros/L), unleaded 95 (1.77 euros/L) and unleaded (1.87 euros/L) are also falling, reaching their lowest level since the start of 2024. Some distributors such as Leclerc have even launched an operation “fuel at cost price” in their service stations until this Sunday August 18.

The situation in the Middle East is worrying

However, this decline may not last much longer. While oil prices fell on Friday, August 16, due to gloomy economic indicators in China and fears about American demand, other geopolitical hazards could push them upwards. The first of these reasons concerns the situation in the Middle East. As ongoing tensions between Israel and Hamas have been rising in recent weeks, an attack by Jewish settlers in the West Bank left one dead and one seriously injured on Thursday, our colleagues point out.

If an escalation occurs in the region, Iran, one of the world's leading oil producers, would likely be involved, which could cause a spike in prices at gas stations.