Infotech Fuel prices continue to rise, new aid considered by the government

Fuel prices continue to rise, new aid considered by the government

The prices of road fuels sold in France continued to rise, once again crossing record levels last week, according to official figures published on Monday 24 January.

Diesel reached an average of 1.6540 euros per liter, or 3.26 cents more than the previous week, according to weekly figures from the Ministry of Ecological Transition stopped on Friday. The liter of super SP95 was at 1.7249 euros and the SP98 at 1.7854 euros, or +1.80 cents in both cases.

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Same trend for all the other fuels: 1.6992 per liter of super SP95-E10 (+1.71 cents) and the same slight increase for Superethanol E85, to 0.7518 euro (+0.16 cents).

Faced with these increases, the government is about to increase the amount of mileage allowances for the 2.5 million taxpayers who pay taxes and declare real costs, according to the “Parisien” on Monday. The scale for accessing it, reviewed each year between the end of January and the beginning of February, could be upgraded this year.

Oil prices on the rise again

Steadily rising in recent weeks, prices have exceeded the previous record since October, dating back to August 2013 (1.5691 euro per litre). During the same period, a liter of unleaded 95 sold on average at 1.7069 euros, including taxes, against 1.6823 euros per liter the previous week. The third highest average dates back to 2012, at 1.6664 euros per litre. Unleaded 98 also reached a record, at 1.7674 euros per litre.

Oil prices have started to rise again since the start of 2022. Thus, the price of a barrel of Brent from the North Sea reached a three-year high on Monday, boosted by supply disruptions in Libya and Nigeria between others, and by an upturn in demand.

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Fuel prices: “We could experience a sustainable period at a high level”

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Prices at the pump follow the price of a barrel of oil but also obey several other factors (euro-dollar exchange rate, level of stocks of petroleum products and demand, taxes, etc.).

In October, faced with this price increase, but also with broader concerns about purchasing power, Prime Minister Jean Castex announced an “inflation allowance” of 100 euros for 38 million French people.

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