Fuel Prices in France Still High Despite Crude Oil Drop

Renewed tensions in the Middle East have led to increased fuel prices in France.

In July, diesel costs rose by 5c to €2.22 per litre, while petrol prices reached €2 per litre for both SP95 and SP98.

The conflict between Iran and the US has had a significant impact on global crude oil supplies, with Brent crude oil prices dropping by 5% to $83.18 after the announcement of new negotiations.

However, these price drops have not yet reached French fuel pumps, and suppliers say that prices at the pump correspond to the costs related to making that specific batch of fuel.

In the long-term, prices will largely depend on the outcome of the US-Iran negotiations and a safe opening of the Strait of Hormuz.