While the fuel consumption of the French is declining, its price at the pump is increasing to reach that before the pandemic.
A rising fuel price despite a drop in consumption
Fuel prices have been rising steadily since the start of the year. Currently you have to pay on average 1.48 euros for a liter of unleaded 95 and 1.40 euros for that of diesel. An increase of 10 cents for unleaded 95 since the start of the year and 9 cents for diesel. Fuel prices are therefore reaching their pre-pandemic level.
An increase in prices which occurs despite a drop in consumption. Health measures to deal with the pandemic such as confinements and curfews have led to a drop in fuel consumption in France. It was this drop that led to the collapse in the price of oil and therefore logically in the price at the pump. However, in January 2021, thehe French fuel consumption remains 15.4% lower than for the same period in 2020. Thus, despite lower consumption, prices increase.
The rise in oil prices should continue
If consumption does not increase the price increase should still continue. A continuous increase due to oil producing and exporting countries which keep prices high by limiting oil production. The low production is also due to the reluctance of producers who are afraid of a further worsening of the health situation.
If the increase in the price of oil continues, Mathilde Adelinet, research engineer at the French Petroleum Institute believes that the latter ” should still not hit the $ 100 a barrel mark “.