The Casino brand has decided to extend the “fuel work” for the summer holidays, which will reduce the bill for many motorists! https://t.co/SfW74jJthE
— AutoPlus (@AutoPlusMag) July 6, 2022
The price of gasoline and diesel has been falling for a month now. Very good news for all motorists, which was also helped by the 30 cent discount set by the government. Not to mention the slight increase from TotalEnergies 20 cents, which also helped generate crowds at the brand’s service stations for several weeks. Yes, but now it couldn’t last. So here we are, over the last week, prices have started to rise again by a few pennies. Still, nothing dramatic, but it is clearly never happy. Especially since the rise could be accentuated…
[#SudRadio]🗣@dupontainan : “For a real reduction in the price of fuel to 1.50 euros, it is necessary to tax the profits of oil companies! »
📺https://t.co/lUATrHpy5E pic.twitter.com/WuJhdZewZv
— Southern Radio (@SudRadio) July 4, 2022
Production decline
Indeed, OPEC+, which unites oil producing countries such as Algeria, Russia, Mexico or even Bahrain, Saudi Arabia, the United Arab Emirates and Qatar, among others, have adopted the new decision. The organization has indeed decided to reduce production. And it will be very high, about two million barrels per day, from October 1. This is then the biggest drop since the start of the Covid-19 epidemic, when demand was very weak at the time. However, this is no longer the case. What’s worse, it’s even growing.
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Before the price jump?
However, following the principle of supply and demand, we can expect a real spike in fuel prices in the coming months. Especially since November 1 coincides with the drop in the discount, which will drop to 10 kopecks. Whether that 30 cents can be saved to help motorists remains to be seen. But then, why is that? production decline. Simply because OPEC+ is afraid of a global recession that will lead to a drop in oil prices, which it wants to avoid at all costs.
I am introducing a bill aimed at reducing gasoline taxes in the face of record high fuel prices and taxing oil company dividends.
A few days before the big holidays, this is an important topic for the French. pic.twitter.com/84UlSqaEBM
— Fabien Roussel (@Fabien_Roussel) June 29, 2022
Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.