Black gold prices continued to fall last week, with a barrel of Brent trading at less than € 23 on Wednesday March 18. We hadn’t seen this since 2003. Even though prices recovered slightly shortly afterwards (€ 24.30 on March 23, 2020), this slump continues to affect prices on the pump. At least partially.
According to official statements made on Friday, March 20, published on Monday by the French Petroleum Union (the ministerial location is currently lagging behind), the diesel price is losing 4 cents and is exactly € 1,257 per liter. A nice drop, but almost disappointing given the context. Hopefully the effects will become clearer next week. Note that the decline in diesel in one month since January 1 has reached 14.3 ct and down to -22.3 ct.
On the great side …
On the other hand, the decline is much clearer since the SP95 lost 7 cents in a week and is now at 1.334 euros per liter. The prices for E10 and SP98 have not yet been announced, but should go the same way. In a month the gasoline would drop by more than 15 ct and catch up with the trend triggered by diesel.
Prices are falling as well, it’s a dream, but unfortunately we have to keep working on our brakes to take advantage … Another disappointment, the last time the run fell to this level – it was in 2016 -, The liter of diesel had returned to 1 euro. Today we are very far from it because a number of taxes have accumulated since then.
Price trends on the pump
Here is the table of fuel prices in the station (and their weekly evolution):
Diesel: € 1,257 (- 4 ct)
SP 95: € 1,334 (- 7 ct)
Surveys conducted by the Directorate General for Energy and Climate (DGEC) on Friday 20 March 2020 in all distribution networks (oil tankers and large areas) and published by Ufip on Monday 23 March. Price of E85 according to the website Prixdubaril.com: € 0.685.