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Fuel prices soar at the pump again – Economy


Fuel prices at the pump are on the rise again and are reaching historic levels. According to the latest figures from the Ministry of Ecological Transition, a liter of diesel sold on average € 1.5883 and that of unleaded 95-E10 climbed to € 1.6595 during the first week of 2022. In some service stations, the symbolic bar of € 2 per liter is even crossed.

These record prices come just three months after a first historic peak in October which forced the government to distribute an inflation allowance of € 100 intended for French people receiving less than € 2,000 net per month.

€ 15 more for a full tank in one year

The price hike in one year is spectacular: gasoline (SP 95-E10) increased by 28.2 euro cents and diesel by 31 cents. The current levels now exceed those reached at the time of the yellow vests crisis at the end of 2018. An increase of 30 cents over twelve months represents € 15 more on a full 50 liters.

According to experts, the economic recovery is causing the price of a barrel of oil to soar, after a slight drop in December due to the uncertainty linked to the Omicron variant. Supply fails to keep pace with strong demand. “The stocks are low. Countries like Russia, Libya and Nigeria are not following in terms of production for technical reasons, not to mention the tense political situation in Kazakhstan ”, explains Jérôme Sabathier, engineer economist at the French Petroleum Institute (IFPEN) , cited by Nord Littoral.

Should taxes be lowered?

This outbreak, which could continue in the coming weeks, angered the 40 Million Automobile Association, which sent an open letter to Emmanuel Macron to demand “urgent measures”. “The government intervention will have extinguished only the media fire fueled by the anger of unarmed road users facing soaring prices, without giving them a real solution to face this situation,” writes the association.

“Emmanuel Macron is the only one who can act right away. The premium of 100 € has not changed anything, the prices have never been so high. The French continue to be held up at the pump, ”estimates Pierre Chasseray, the president of 40 Million motorists, who calls for lower taxes, including VAT. This hypothesis had already been rejected in the fall by Bruno Le Maire, the Minister of the Economy, for whom “lowering VAT on fuel even by a single cent would represent a shortfall of 500 million euros. for the State coffers ”.




letelegramme Fr Trans

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