Prices at the pump continue to fall. For the ninth week in a row, Unleaded 95 and Diesel are gaining a few centsto settle on average at 1.77 euros for the first and 1.79 for the second during the week of August 15.
A level almost equivalent to that of February, before the start of the war in Ukraine. So Claudine seized the opportunity at a gas station south of Limoges. “I looked at the prices before coming and then I took advantage of the drop to add some gas.”
A lasting decline?
However, concerns remain at Karina. She also fills up as long as prices continue to fall, but she has no illusions. “It’s going down little by little but it’s not enough yet. For me by September it will start up again”.
Impossible to predict if prices will rise again at the start of the school year. “This decline was discussed a few weeks ago, but I don’t have a crystal ball to say if it will be sustainable” laughs Bruno Marchat, secretary general of the oil group Picoty, based in La Souterraine, in Creuse. Prices have fallen due to various economic conditions and an increase in supply on the oil market.
Influence of China and Iran on the market
China, the world’s largest oil importer, is experiencing a slowdown in growth and has therefore purchased less oil. At the same time, discussions with Iran have resumed on nuclear issues. If successful, the country could put around a million barrels back on the market.
But “All it takes is for something to happen in global geopolitics to see prices rise again. We are in a very complex market, where it is very difficult to make forecasts” says Bruno Marchat. One thing is certain, the government rebate will increase at the start of the school year, from 18 to 30 centimes per litre.