Good news for motorists. The average price of diesel was down, to 2.283 euros, in French service stations, Monday November 2 at 4 p.m., according to official data compiled by franceinfo. The average daily price of unleaded 95 (SP95-E10), the most sold in France, and unleaded 98 (SP98) also showed a slight decrease, to 2.109 euros and 2.226 euros respectively. This development follows the start, on Sunday, of the destocking of ten million barrels of diesel from strategic reserves, a decision taken by the government to relieve consumers' wallets.
“This Monday morning, one in two stations reflected the drop” in diesel prices, assured Maud Bregeon, Minister Delegate in charge of Energy, guest of franceinfo, Monday morning. Their number "will increase in the hours and days to come depending on the filling of tanks and deliveries", estimated the government spokesperson, according to whom "the objective remains a reduction of 18 cents". According to the latest statement from service stations, the price of diesel has, for the moment, fallen on average by just under nine cents between Saturday and Monday.
The government announced on October 12 to make available to distributors these strategic stocks which had been purchased before the war in the Middle East and which are sold at 0.28 euros per liter, compared to around 1.10 euros on the market in mid-October, according to Matignon. Concretely, “100,000 barrels are released every day at cost price and are diluted with other purchases on the market,” explains Nicolas Goldberg, specialist in energy issues at Colombus Consulting, to franceinfo. This diesel, three to four times cheaper than usual, represents around 20% of the volumes purchased each day by wholesalers to supply French service stations.
Enough to generate a “significant price drop”, of almost 10%. “It’s the only thing the government could do and it did it, in accordance with its announcements,” greets the expert, also head of the energy division at the Terra Nova think tank. The choice to concentrate this measure on diesel can be explained in particular by its price, now "significantly higher than the price of gasoline", which "is not usually the case", adds Patrice Geoffron, co-president of the Circle of Economists. It also mentions the use of diesel "in rural areas", in environments where motorists have "few other options, particularly in terms of public transport".
On the eve of this destocking, several major brands announced price reductions at the pump. TotalEnergies reduced, as of Saturday, the price of diesel to 2.15 euros per liter in its 705 Access stations, its lowest-cost network, which represents 60% of its fuel sales, recalls AFP. This is 10 cents per liter less than the ceiling of 2.25 euros that the group applies everywhere. Its other stations, excluding motorways, were to follow from Monday, "depending on developments in international diesel markets".
E. Leclerc supermarkets also announced a drop of 21 cents per liter in the price of diesel in its 742 service stations from Sunday. This reduction of 21 euro cents per liter will be deducted every day from the price of diesel, "which continues to follow market prices", promises the distributor in a press release. On a full tank of 50 liters, the saving reaches just over 10 euros. According to the brand, the difference between the cost of strategic stocks and current prices is transferred to the price at the pump, "without keeping a part of it aside". Cooperative U, which buys its fuels jointly with E. Leclerc, will also offer a reduction "up to 21 cents" per liter, the brand told AFP.
But some gas stations can't yet make the bill less hefty. “The government has chosen to favor the largest” distributors in making strategic diesel stocks available, said Francis Pousse, national president of fuel and new energy distributors at Mobilians, on Sunday October 31, on franceinfo, which notably represents independent service stations. Contrary to what had been announced, small local wholesalers who supply rural communities in particular "have not received strategic stocks and therefore cannot lower prices", he warns. Enough to fear an acceleration of the permanent closures of these small stations.
Whatever the size of the service stations, this rebate at the pump will be fleeting, warns the government. “It will last at least three months,” said Maud Bregeon on franceinfo. The destocked strategic reserves must therefore supply the market until the end of January. Until then, prices may fluctuate slightly. “The market price of the rest of the supply will continue to increase, so this will eventually be reflected in the price,” warns Nicolas Goldberg. “The drop of 21 cents announced at Leclerc could turn into a drop of 18 or 15 cents in the weeks to come.”
