Fuels: the price of diesel has fallen by 15 cents on average since the release of stocks, assures Roland Lescure
The Minister of the Economy welcomed a “very significant” drop in prices at the pump, which follows the placing on the market of part of France’s strategic stocks since Sunday November 1.
The government's promise on fuels is coming to fruition, he welcomes. Diesel prices have been falling for several days, with 6,600 of 10.
000 French stations which reduced their prices, by 15 cents on average, after the release of strategic stocks, Roland Lescure said on Wednesday. “Today we have 3,000 stations out of 10,000 whose drop exceeds 20 cents,” added the Minister of the Economy on BFMTV/RMC.
“On a full tank of 45 liters, which is a normal full tank, we save 9 euros, that’s almost a 10% reduction, it’s very important,” he stressed. This dynamic is added to the compensation of 100 euros for “long-distance drivers”, which benefits low-income households who have to use their car to go to work. “This aid has been extended, extended” for the “last three months of the year,” argued Roland Lescure.
The drop in prices constitutes a “significant effort” for the government, underlined the minister. The executive announced in October that it would sell at cost price to distributors ten million barrels of diesel from strategic stocks for three months, from November to January, in order to lower prices at the pump, to historically high levels since the start of the conflict in the Middle East, triggered by strikes by the United States and Israel on Iran. Geopolitical uncertainty This destocking began on Sunday November 1st.
“As strategic stocks arrive in the pumps, they drop,” said Roland Lescure, stressing that this drop was observed in “small stations” but that these may take longer to be supplied. “They will have three months ahead of them to (...) make these price reductions for their consumers,” he recalled.
On Tuesday, Trade Minister Serge Papin reported a drop in diesel prices at 6,000 stations, of 12 euro cents on average. Roland Lescure, however, estimated that it would be “necessary to monitor in the coming days” possible changes in Donald Trump's international policy, “notably on the price of gasoline”, after the defeat of the American president's Republican party in the mid-term elections on Tuesday. On Wednesday morning, a liter of diesel was sold for 2.2553 euros on average in France, according to Fig Data calculations based on public data from the Ministry of the Economy.
On October 31, this average price was 2.3744 euros.
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- Le Figaro4 Nov, 10:31
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