The average price of a litre of diesel in France has fallen to just below €2, for the first time since March 7th.
The price of fuel around Europe has soared ever since the Hormuz Strait closed in March following the US-Israel attacks against Iran.
In France the cost of petrol (gasoline) has been mostly held below €2 a litre, but diesel is more expensive and the average price per litre has been above €2 since March.
However on Friday, the average price fell to €1.99, down from €2.01 the previous week. Unleaded petrol remains at €1.94 on average, with significant regional variations.
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Despite the fall, linked to a fall in the global price of oil, motorists in France are warned not to expect further falls in the short or medium term future.
“Broadly speaking, we can expect that motorists in France will likely spend their summer with prices below €2 a litre,” Philippe Chalmin, professor emeritus at Paris-Dauphine University and founder of the CyclOpe think tank specialising in commodities, told France Info.
However he said that further significant falls in price were unlikely in the short term – even if the US and Iran conclude a peace deal and the Strait reopens.
Falls in the global price of crude oil filter slowly into the domestic fuel market, while the summer traditionally sees high demand for petrol and diesel as French families head off on holiday, creating high demand that will likely keep prices high.
