Sunday, October 1, 2023

Why we will have to learn to live with expensive oil

Why we will have to learn to live with expensive oil Distributors should be allowed to sell fuel at a loss, starting December 1, for six months. Tom Craig/direct photo 

DESCRIPTION – The barrel of Brent, which this Monday was close to 95 dollars, has gained 22 dollars since June 27. And there are no signs that it is preparing to decline.

End of the world and the end of the month. The two are more opposed than ever as prices at the pump soar. Motorists are waiting for a gesture from the government that has targeted TotalEnergies and fuel distributors. It is up to them to take the necessary measures to stop the growing bill for diesel or unleaded gasoline. Since the beginning of summer, the price per liter has risen by 27 cents for diesel, to 1.93 euros on average, and 16 cents for diesel 95, to 1.97 euros. And in certain stations, the 2 euro barrier is easily surpassed, with peaks of 2.30 euros per liter.

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The head of TotalEnergies, Patrick Pouyanné, announced at the beginning of last week a cap on the price of diesel and unleaded diesel at 1.99 euros per liter. as long as prices remain high», in its 3,400 French service stations. He thus extended the measure installed in March, which became effective with the strong rise in crude oil prices. Distributors must…

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