Fuels: Prices at the pump fell sharply in July
Motorists were able to benefit from a significantly lower fuel bill in the past month: in one month, the liter of diesel has fallen by 18 cents.
Motorists driving this weekend, during the traditional July-August transition, were able to benefit from lower prices at the pump. A relief for the millions of French people on their way to vacation… or back to work.
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According to the latest data released by the Ministry of Ecological Transition on Monday morning, a liter of diesel cost an average of 1.8782 euros at the end of last week, down 5.6 cents in seven days. All major fuels have fallen in price, including petrol: the SP95 lost 7.9 cents to an average of €1.8448 and the SP95-E10 lost 6.2 cents to €1.8082. Superethanol also fell to 0.8086 euros, as did LPG, which fell to just 0.8566 euros.
The sustained drop in prices, triggered in mid-June, has enabled motorists to save several euros per tank of fuel, enough to relieve a portfolio that is already badly hit by the sharp rise in prices in all areas. In one month, the liter of SP95 has fallen by 24 cents, that of SP95-E10 by 22 cents and that of diesel by 18 cents. Good momentum bringing prices back to May levels.
Further cuts expected in September
Between early June and mid-July, the price of a barrel of Brent crude fell by around $23. Particularly in question: the decline in activity and concerns about an economic slowdown, which the IMF in particular has pointed out. It then rallied, climbing $109 before falling almost 8.6% on Monday.
In September, thanks to the increased liter discounts on the one hand from the state and on the other hand from TotalEnergies, prices are likely to fall again significantly by around tens of cents. From September 1st to November 1st, the energy company, which has been put under pressure by several political movements, will be introducing a discount of 20 centimes per liter in all three-color petrol stations. An increase of eight cents more than the current level, which, however, only applies to its stations near the motorway. At the same time, the government wants to significantly strengthen its own discount and increase it from 18 cents to 30 cents.
All of these temporary measures would therefore reduce the bill per liter by around 50 cents, including 20 cents more than the discounts already in place. Enough to significantly reduce revenue of course… but still not enough to get back to where it was late last year.
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