Fuel prices at lowest level in France since end of February
Prices fell by more than 10 cents in a single week
Fuel prices still remain higher than pre geopolitical tensions
Hasan Serhat Bozkurt/Shutterstock.
Fuel prices in France continue their decline, reaching their lowest levels since the end of February.
The fall has accelerated this week following the easing of tensions in the Middle East since when Brent crude has dropped from around $90 to below $80 per barrel, leading to retail fuel prices falling, although with a delay.
The average price of diesel has now fallen to just under €1.90 per litre, according to the latest government data, its lowest level since February.
This marks a drop of more than 10 cents in just one week, and some 40 cents below the peak recorded in mid-April.
Petrol prices have also continued to decline, with SP95 and SP98 seeing steady weekly decreases, though the pace varies depending on fuel type and region.
However, despite this rapid fall, prices remain higher than before the geopolitical tensions that pushed oil markets upward earlier this year, when diesel was close to around €1.70 per litre.
President Emmanuel Macron had expressed optimism that further declines could follow as global oil markets stabilise, particularly after progress on reopening key shipping routes such as the Strait of Hormuz.
He has also noted though that it may take several weeks for lower oil prices to fully feed through to the pump.
Economy Minister Roland Lescure has also remained cautious, saying that while prices have already fallen significantly, a return to pre-crisis levels will take time, even if the downward trend continues in the coming weeks.
