Against the background of the clashes between Russia and Ukraine since the beginning of March 2022, the price of raw materials continues to rise. This is particularly linked to the fact that Russia is subject to strong economic sanctions… but not only!
In this context, the price of Russian oil, on which we depend, is also pulled up, a price which is directly reflected in the price of gasoline on a daily basis. On March 11, 2022, at the time of writing this article, the average price of a liter of Diesel (B7) costs on average €2,246 in France, and a liter of Unleaded 98 (E5): €2,189!
And this is not an increase of a few euro cents: prices are between 40 and 60% times higher than in 2022 on the same date.
Thanks to our president, or thanks to Russia?
Thus, many French people are wondering when this increase will finally stop. How will gasoline prices evolve in 2023? Unfortunately, analysts predict an increase of up to €5 per liter for early May 2022, and here's why.
Russia will not back down
Unfortunately, the price of gasoline is intimately linked to the conflict and its intensity. The more the conflict deteriorates, the more the price is likely to increase. Now, from what we can see, it seems that Vladimir is determined to invade Ukraine.
Ukraine will not give up
The second logical option would be the end of the conflict by the Ukrainian side, however, it seems that they are determined to continue fighting. Being very patriotic, young Ukrainians did not hesitate to take up arms to defend their homeland against the Russian bear.
Economic sanctions keep falling
As part of the invasion of Russia, many European countries (in particular), including France, have decided to apply economic sanctions against Russia. As a result, the price of oil and therefore of fuels continues to increase, it is a backlash from Russia, knowing that we are very dependent on their resource.
Bruno Le Maire is in a bellicose mood
Even if the situation calms down for other European countries, it is likely that Russia will not quickly stop the increase in the price of its resources towards France.
Indeed, after heated exchanges with the Russian Foreign Minister, the latter indicated his strong dissatisfaction with the remarks of our Minister of the Economy, Bruno Le Maire. A situation that does not help motorists, and which does not go in the direction of the fight against rising fuel prices.
The United States slowed production
In this context, American oil is one of our last alternatives, which means that we are totally dependent on them. In this context, they have slowed down the speed of extraction in order to keep control of the rarity, and therefore the prices. In this context, prices are not expected to fall anytime soon.
Americans true to themselves
As often, the expression “the misfortune of some makes the happiness of others” falls perfectly for Americans, who have been earning a lot of money with the increase in oil prices for a few weeks now. We can thus suspect that they will seek to make their interests prevail before those of others, as always.
The schoolboys are out
Even if the tensions were to fall, many environmental activists and politicians use the example of Russia to assert the independence of our resources, in particular oil.
As a result, they are calling for the abandonment of products linked to it, starting with fuel. Now, the best way to make people give up using something, and simply increase its price indefinitely, and thus make the simple fact of filling up a luxury privilege.
The price of oil is in dollars
Many do not know it, but the price of a barrel of oil has already reached such heights, notably in 2009, following the “subprime” crisis. However, the euro-dollar parity was much more in favor of the euro.
Today, the course of the euro is collapsing against the dollar which continues to gain ground, which also explains the rise in the price of gasoline, which French motorists pay at the pump in euros.
The state is taxing more
In 2022, fuel taxes have still not decreased, despite the movement of yellow vests in 2019, which also explains this increase.
According to some sources, this increase in taxes should not stop for now, which will certainly not help the price of fuel to decrease. Domestic consumption tax, carbon tax, fuel tax, VAT on petrol, taxes on petrol transporters… we've lost count!
Our president wants to feast before leaving
What could be better than good old fuel taxes under the guise of international conflict for our dear leader? With a seat that he will potentially have to give up in May, it is not excluded that he will decide to continue to increase taxes in order to pay these last (unnecessary) expenses at the end of his mandate.