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Fuel price: French government calls tankers for "moderation"

2019-09-17T10:02:21.304Z

Professionals in the sector predict an increase of 4 to 5 cents per liter of gasoline, due to the undermining of Saudi production after a drone attack against a field and a factory.



Professionals in the sector predict an increase of 4 to 5 cents per liter of gasoline, due to the undermining of Saudi production after a drone attack against a field and a factory.

The French government on Tuesday asked the oil companies a certain "moderation" about the possible rise in fuel prices after the surge in oil prices following the attacks in Saudi Arabia, while ensuring that there will be no problem of oil prices. supply.

"We call the oil companies to moderation on the increase in prices (...) I recall that we are at the level of oil last May and as such we are not in a crisis such as we have known in 2008 with prices that were close to 150 dollars, "said Secretary of State for Transport Jean-Baptiste Djebbari, interviewed on Franceinfo. Professionals of the sector had fired on Monday the alarm on an increase of 4 to 5 cents per liter of gasoline.

Price flight

On Monday, the North Sea Brent price, a benchmark on the world market, jumped by more than 14.6% to $ 69.02, the largest increase since the contract's inception in 1988. of WTI, reference crude oil in New York, it had risen 14.7% Monday, to 62.90 dollars, its largest increase since December 2008. This rise in prices is the result of attacks on Saturday against oil facilities Saudi, the world's largest producer of black gold.

"There is no problem of supply," said on his side the Minister of Ecological Transition Elisabeth Borne on France 2, recognizing that there could be a "rise of a few cents". "There are stocks at the oil companies and France, like most major countries, has strategic stocks that represent 90 days and therefore three months of consumption, so there is no fear about the supply," he said. she added.

Saturday's attacks on the Abqaiq plant and the Khurais field in eastern Saudi Arabia resulted in a 50 percent drop in Saudi output, to 5.7 million barrels a day. about 6% of global supply.

"Yellow vests" demand a price freeze

The collective "Vests yellow citizens" on Tuesday called for an "immediate freeze" of fuel prices and launched a petition to support its initiative to curb the effects of soaring oil prices.

Recalling that "the movement of Yellow Vests follows the rise in fuel prices in 2018", the collective believes in a statement that "in a complicated social context, Emmanuel Macron must not let the situation get complicated."

Source: europe1

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