is on fire again, what impact does it have on your refueling?

Barrel of Oil Price: Soaring Again, What Impact on Your Gas Tank?

BARREL PRICE. The price of a barrel of oil rises again this Wednesday, March 23. Highly indexed to its course, the price at the pump in France could quickly pay off the price. All the information.

[Mis à jour le 23 mars 2022 à 16h38] $116. This is the price of a barrel of Brent this Wednesday, March 23. Its highest level for almost two weeks. Concerning figures that cast serious doubt on the prices charged at gas stations in France. The purchasing power of the French is in trouble, and it is not likely to improve. A slight calm had been seen for a few days, back to square one. For this, theInternational Energy Agency (IEA) raises serious doubts about the global oil market to consider a “Global oil supply shock“. What to anticipate by proposing a list of 10 solutions with immediate effect to try to limit your expenses such as the alternation of traffic in large cities. In France, the lockdown movements must continue throughout the week and in the following days, as has been the case since the beginning of the week in Bouches-du-Rhône.

Given the unprecedented increase in the barrel of oil last week, close to 140 euros per barrel, IEA member countries must release no less than 60 million barrels of oil of your reservations. One goal, to stabilize a market in panic. So should we expect a further increase in fuel price in France, when the prices charged have already reached historical highs? Since fuel prices are strongly indexed to the price of a barrel of oil, a further increase in pump prices is expected despite the new aid measure implemented by the government. French consumers could well be the first victims of a possible embargo. It is difficult for Europe to change quickly, alternatives are possible, but it will take time before they are implemented. In France, the price of a liter of diesel has fallen below 2 euros, on average, throughout the territory (1.97 euros per liter). But like the first outbreak in early March, the fallout from the bomb should be severe. Remember that the effect in France of the rise in the price of European oil is felt after about 8 to 10 daysIt is the moment of true repercussion.

Since the beginning of the week, we have seen a bit of a respite with prices relatively stagnant. They fell back below $100 at the start of the week before rising significantly again. Prime Minister Jean Castex announced two fuel subsidies, on Wednesday, March 16, during the press conference to present the resilience plan. First a 15 cents off in fuel for all French from April 1 and for 4 months. So more help from 35 cents per liter of Gasoline fishing fishermen hard hit by the price explosion. Aid valid from April 17 to July 31 to allow them to return to the sea in decent conditions.

  • March 7, 2022: 139 dollars the barrel
  • March 8, 2022: 128 dollars the barrel
  • March 10, 2022: 110 dollars the barrel
  • March 15, 2022: 98 dollars the barrel
  • March 16, 2022: 100 dollars the barrel
  • March 17, 2022: 106 dollars the barrel
  • March 18, 2022: 109 dollars the barrel
  • March 21, 2022: 111 dollars the barrel
  • March 22, 2022: 118 dollars the barrel
  • March 23, 2022: 116 dollars the barrel

The war in ukraine questions the supply and price of energy. Apart from gas, one question remains central and arouses curiosity, what is the price per barrel of oil in this mess? Rising almost constantly since December 2021, the price of a barrel is now stable around $100, measured exactly in 116 Dollars This Wednesday, March 23.

When you refuel, taxes represent 60% full. And these taxes, despite the war in Ukraine, fluctuate quite little. In particular, the tax on internal consumption of energy products (TICPE), which simply represents the fourth state income, behind VAT, personal income tax and corporate income tax. the fuel price leaving the refinery, corresponds to 1/3 full of gasoline. Notably influenced by the price of a barrel of oil in international markets. Gas station attendants will have no choice but to transfer this rise to the price per liter.

Note that there is a time lag between the increase in the purchase price of a barrel of oil and the actual impact on prices at the pump. This time varies 8 to 10 days about. In an attempt to curb this phenomenon, the Government has launched and distributed various aids. in particular the main inflation granted to 38 million low-income households, as well as the mileage scale revaluation for 2.5 million tax households. The threat of a embargo union on Russian gas could cause the price of a barrel of oil to skyrocket 300 dollarsor even more.

According to INSEE, the Russia is he third world producer of oil with 10 million barrels per day, of which 2 million transit to Europe. the Franceshe matters 9% of its crude from Russia. And the countries that could replace Russia’s leading role in oil export are not legion. Nigeria, Angola and Libya, for example, are not even meeting their own production targets. the Nigeria (9.6% of oil imports in France), theAlgeria (10.3%), and theSaudi Arabia (11.8%) remain crucial trading partners for France that the government could turn to more to supply the country.

“We have important strategic oil reserves that cover almost three months of consumption and allow us to face supply cuts. The French are not at risk of running out of fuel or gas for heating in the coming months”, declared the Minister for the Ecological Transition. , Barbara Pompili on February 23. The European Union could even decide to release part of its strategic oil reserves to offset the rise in fuel prices in the face of this major market disruption. A decision made only three times in history, for example after Hurricane Katrina in the United States.

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