Fuel prices soar when going on vacation

After a drop caused by the pandemic, fuel prices have returned to a level close to pre-crisis levels. Is a fall in prices in the future possible?

A surge in fuel prices announced by the Ministry of Ecological Transition

Deconfining oneself, yes; save money, no. While the pandemic had brought down prices at the pump, with the approach of departures on vacation, we learn that fuel prices have increased to return to a level close to pre-crisis levels. This surge in prices was announced by the Ministry of Ecological Transition on June 25.

The liter of Unleaded (SP) 95 sold around 1.565 euros last week. This is more than at the start of 2020 when the average selling price per liter stood at 1.5186. And the price of Diesel is not spared, since last week, the liter cost 1.4296, against 1.2754 at the start of 2021.

Prices that increase as demand increases

In April 2020, the containment had led to an exceptional drop of 25% of demand, or 25 million barrels of crude less per day. Oil prices then sank to a historically low level. Mechanically with the deconfinement, and the resumption of activities, the price of fuel goes up.

For now, falling fuel prices in the future is not an option. “ The United States or China have returned to their pre-pandemic activity levels, but not other parts of the world like Europe. This will therefore continue to push prices up, but probably not as strongly as at the beginning of the year. We should therefore observe a relative stabilization », Explained Francis Perrin, petroleum specialist and research director at the Institute of International and Strategic Relations (Iris).