Soaring price of diesel: "We are facing a major energy crisis"

Europe 1 3:50 p.m., October 12, 2021

TO ANALYSE

This is a new variation of the energy price crisis that France is currently experiencing: the liter of diesel is on average 1.5354 euros at the pump last week, a historic record for this fuel.

The previous peak dated from October 2018 before the start of the "yellow vests" crisis.

Rising prices, such as that of gas and electricity, which testifies to a major energy crisis, "warns Philippe Chalmin, specialist in energy issues, guest of Europe 1, Tuesday.

Too low a production level?

"The price of oil, sucked in by the price of natural gas, is at relatively high levels," says Philippe Chalmin. "We went in a few days from 70 to almost 84 dollars a barrel today. This explains the tensions on all fuels, with perhaps a little more for diesel, because there is has a higher demand today for this type of fuel oil and others, especially for heating. "

But will this surge in prices continue?

"Very smart who can say it", evades the economist.

"We can expect by the end of the year a very wide range between 60 and 100 dollars a barrel. It is clear that today there is a rather strong pressure on the oil producers of OPEC +, around Saudi Arabia plus Russia, to increase their production capacities, because for the moment, they are still well below their level of production before the pandemic. "

Towards "a peak"

According to some analysts, the barrel could reach 100 dollars at the end of the year.

"I think that we are still a little at the peak level and that normally, we could have some relaxation at least on oil by the end of the year", tempers Philippe Chalmin.

Faced with prices that have been rising for several months, motorists would welcome this ebb with relief.