The price of gasoline at the pump is on the rise again. After some lull in recent weeks, the labels are back to their highest for a month.
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Diesel, still the most sold in France, costs on average 1.95 euros per litre, unleaded 95 1.86 euros. In any case, the liter took more than six cents in a week. Same causes, same effects: the global oil market and the war in Ukraine, again and again.
Prior to Russia’s invasion of Ukraine, pump prices were already on the rise due to the recovery of the global economy. A machine that starts again needs more energy to operate. But the war in Ukraine pushed the price of black gold to new heights. Added to this was the resurgence of Covid in China, raising fears of a drop in demand, and now looming fears of a European embargo on Russian oil purchases by the end of the year. All this combined with a limited supply from the major producing countries which remain cautious in the face of these uncertainties and do not want to reopen the taps too quickly. These are the reasons for the new surge in fuel prices at the pump.
The shortage is, for the moment, excluded. We are not there, far from it. No need to rush to service stations to multiply the full and fill the jerry cans, it is useless if not to accentuate the problems. A bit like the flour and oil whose store shelves are robbed. For the time being it is the customer who creates the shortage by constituting stocks at home when in reality the products are not lacking.
As far as gasoline is concerned, the professional organizations are formal: France is not undergoing and would not have to face major difficulties, even if a progressive European embargo on Russian oil were to be decided. France has available stocks and other sources of supply. The only real subject today is that of the price. And there, it’s true, the labels will continue to flare up.