Motorists are seeing a slight reprieve at the pump as the price of SP95-E10 petrol has fallen back below the symbolic threshold of 2 euros per liter. According to data compiled by the French government and calculated by the Radio France Agency on Friday, August 7, the average price now stands at €1.98.
Geopolitical Tensions and Market Volatility
Since the outbreak of the conflict in the Middle East, crude oil prices have been fluctuating sharply on international markets. This volatility has directly impacted pump prices, which have risen and fallen in tandem with geopolitical tensions, specifically the conflict between the United States and Iran. The SP95-E10 had been hovering above the €2 mark since July 20 before this latest downturn.
Despite the drop in petrol prices, diesel remains significantly more expensive. The average price for a liter of diesel is holding firm at €2.18, a slight decrease from the €2.23 recorded on Wednesday. This data is based on prices reported by 4,738 service stations across France in the last 24 hours.
Premium Grades and Production Outlook
While standard unleaded has dipped, premium fuel grades are maintaining higher price points. The SP98 grade is currently averaging €2.07 per liter, showing relative stability after a previous average of €2.09 in the week.
The slight easing of prices follows a decision by major oil producers earlier this week. On Monday, Saudi Arabia, Russia, and five other members of the OPEC+ alliance agreed to increase their production quotas for the month of September. This move is expected to inject more supply into the global market, potentially applying further downward pressure on crude prices in the coming weeks.
The data reflects a snapshot calculated over a 24-hour period, from Thursday, August 6 at 6 a.m. to Friday, August 7 at 6 a.m., drawing from a national network of approximately 9,800 service stations.
