As of Monday, the average price per litre for diesel (gazole) was €1.60, while the average price per litre for unleaded 95 petrol (SP95-E10) was €1.71.

For diesel, this means that prices have dropped so much that they are now at levels seen prior to Russia’s war on Ukraine, which started in February 2022.

In comparison, at the end of the summer holidays in 2023, diesel was €0.20 more expensive, at €1.82. For a 50-litre tank vehicle, this would correspond to a price drop of €10 when filling up.

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This corresponds to a drop of around 12.5 percent from 2023 to 2024. As for unleaded 95 petrol, prices have fallen by a little over nine percent in the last year, according to La Dépêche.

Will the price drop continue?

Based on figures from the ministry of environment, which look at major retailers as well as smaller stations, there was a visible week-on-week drop from August 26th to September 1st – with a €0.03 drop in diesel and a €0.04 drop for SP95-E10.

It is difficult to predict if the trend will continue, with experts noting to Le Parisien that prices could depend on the situation in the Middle East.

However, Sciences Po professor and energy expert, Thierry Bros, told La Dépêche that the price of petrol mostly depends on three factors. “The price of Brent crude oil is the number one indicator, and it is mainly defined by global demand for oil. This has tended to rise slightly (…) but it is a little lower than expected”.

Bros explained that the second factor was the ‘refining margin’ and the third is the relationship between the euro and the dollar.

“Recently the dollar has fallen a little against the euro, favouring a drop in prices in Europe,” Bros said.

Bros estimated to the French press that a larger flare-up in the Middle East likely would not have “a massive impact on prices, unless Israel were to attack all Iranian refineries”.