2023-10-17 05:00:11
Fuel prices down for three weeks
According to official data from the Ministry of Energy Transition, published on October 16, 2023 and as of the previous Friday, prices at the pump decreased for the third consecutive week. The trend reversal is in fact confirmed, although tensions in the Middle East leave room for uncertainty.
In the second week of October 2023, SP95-E10 gasoline, for example, showed an average price of 1.816 euros per liter, a decrease of 4.7 euro cents compared to the previous week. For its part, diesel, the most consumed fuel in France, fell by 4.4 cents to settle at 1.85 euros per liter.
As a reminder, both gasoline and diesel cost more than 1.94 euros per liter in mid-September 2023. The drop compared to the peak price is therefore almost 10 euro cents per liter on average in France.
Reductions in gasoline and diesel prices linked to distributor operations
Several factors seem to explain this drop in fuel prices. On the one hand, cost-price fuel operations initiated by major brands have played a role in stabilizing prices. Although distributors only have very small margins, around two cents per litre, the operations have mainly led to a change in the rules of competition.
But the main culprit remains the drop in oil prices. Dated Brent, the benchmark for North Sea oil, fell to 89 euros per barrel, a drop of 2.7 dollars in one week according to data from Monday October 16, 2023.
Savings on fuel for motorists
With these reductions, motorists can make significant savings. For a full 50 liters of SP95-E10, the fuel price announced by the ministry represents a saving of 2.35 euros compared to the previous week. For diesel, the saving is 2.20 euros for a 50 liter tank.
A situation which might well continue: at the beginning of October 2023, the price of oil in Bourse experienced a downturn, even falling below the $83 per barrel mark. Before resuming colors, obviously. As of October 17, 2023, before the opening of the Paris Stock Exchange, Brent oil stood at $89.61 per barrel.
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