2024-09-02 16:05:58
On average, diesel and petrol prices have fallen significantly for several weeks in a row. Enough to shave a few euros off your fuel bills.
The longer the fall in oil prices continues, the more motorists will smile. This Monday, the Ministry for the Ecological Transition published the latest fuel price figures. Particularly encouraging are the figures that show that the fall in fuel bills continued at the end of August, and even faster for diesel.
Specifically, as of the end of last week, diesel cost 1.6093 euros per liter. That’s a drop of 2.5 cents in 7 days and 13 cents compared to the summer peak in mid-July. A full tank is enough to save a few euros. The dynamic that started more than a month ago is thus continuing and has even brought diesel prices back to the level of January 2022.
The same can be observed for gasoline prices, which have once again returned to levels not seen in months. Official data show that last week, the average price per liter of SP95-E10 was 1.7178 euros. The price has fallen again by 3.4 cents in 7 days and is 10.2 cents lower compared to mid-July. Enough to return the cost to the level of the end of 2022, when state-implemented fuel subsidies kept prices artificially low.
Not surprisingly, this dynamic can be explained by the decline in raw material costs. For example, this Monday, Brent crude oil prices fell below $78, while in April they were above $90. “Prices fell sharply last Friday after several analysts announced that OPEC+ would increase production starting in October”IFPEN recalled In his last notesthis Monday. The resilience of Chinese economic activity and tensions in the Middle East also played a role. If the geopolitical environment does not deteriorate, prices are expected to remain at relatively low levels: “Economists surveyed by Bloomberg on August 29 unanimously predicted that crude oil prices will fall, with Brent crude oil prices expected to be $84.5 per barrel (-$0.5 per barrel) in the third quarter and $83 per barrel in the fourth quarter.”emphasizing the note. Enough to reassure drivers.
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