Right in the crossroads of the holidays, the price of fuel at the pump is on the rise again after three months of calm. They have gradually increased since the beginning of July, while inflation is already impacting the holiday budget of many French households. On the highway, there is a bill per liter which again exceeds the two euro mark, while it reaches 1.90 euro per liter in the city.
According to weekly readings from the Ministry of Energy Transition and fuel prices.gouv, diesel is the most affected by this increase. On August 5, you had to pay an average of 1.82 euros per liter, or about seven cents more than the previous week. This is the highest level reached since April. The price of the SP-98, meanwhile, is approaching the 2 euro per liter mark (1.98), while that of the SP-95 has again exceeded 1.90 euro per litre.
Behind the increase, Saudi Arabia
Behind this increase: the drastic reduction in oil exports from the world’s second largest exporter, Saudi Arabia, which announced a cut of one million barrels per day in July, renewed in August, and the promise to cut 500 000 additional daily barrels to be exported this month.
This measure taken by the country close to Russia causes the price of a barrel of oil to rise, and eases Western sanctions against the invading country of Ukraine. The barrel of Brent thus reached 82.90 dollars on July 30, against 73.40 dollars a month earlier. The increase is expected to continue in the coming weeks.