Oil prices continue to rise, while gas prices continue to decline. Oil has been affected by tensions in the Red Sea. Gas, for its part, is a victim of mild weather in Europe this winter.
These two opposing movements in energy prices have a direct impact on French consumers. Indeed, this fluctuation will be felt in gas and fuel bills in France. This Wednesday, February 14, oil prices hit a high above $80 for Brent. For the price of a barrel of Brent from the North Sea, it is a given 82.87 The dollar is pegged to its American counterpart, the barrel of West Texas Intermediate (WTI). is 77.92 dollar
The increase is certainly small compared to the previous day’s session, but it reflects the state of the oil markets. Indeed, tensions in the Red Sea have disrupted these markets. ” The market remains focused on the Middle East situation. Energy Denmark analysts say.
It must be said that despite the hopes of resolving the situation in the Red Sea, the situation remains tense due to the escalation of international mediation, especially in Egypt. ” Although ceasefire talks have begun in Cairo, Israel’s continued assault on Rafah could (possibly) lead to renewed tensions around the Red Sea, a major artery of global trade.explains Tamas Varga, analyst at PVM Energy.
Free fall gas
Besides, gas prices are falling. The Dutch TTF futures contract, considered the European benchmark, lost 2.12% to 24.90 euros per megawatt hour (MWh), shortly after touching 24.705 euros. Lowest level since July 2023.
Thus, gas prices are severely affected by weather forecasts that do not predict severe cold on the horizon. Winters, which were not harsh, also preserved gas reserves, although they were in high demand for heating. According to the European Aggregated Gas Storage Inventory (AGSI) platform, these are still 66.58% full on average across EU countries.
What will be the impact on fuel and gas bills in France?
Oil prices in France have a direct impact on fuel prices. Their increase means a price hike at the pump. The current situation on the world market will therefore reinforce the rise in fuel prices that started a few days ago. For a reduction in gas prices, it has to be reflected in the bills of consumers, as the purchase price in the international market is when it is sold to consumers.
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