In the coming weeks, the French risk seeing their purchasing power further decline due to the rise in the price of oil and gas, caused by the war in the Middle East. Here is concretely what you risk.
A sharp increase in the price of gas and oil
In France, the war in Iran is also starting to be felt, directly impacting our portfolio.
Just a few days after the start of the conflict, the price of a barrel of oil soared. And for good reason: Iran decided this week to block the Strait of Hormuz, a strategic area since “Twenty million barrels of oil pass through this place every day, which represents about 20% of the world’s supply.reveals Euronews.
Result ? Since last Saturday, the price of oil has already increased by 15%. And if the government assures that this increase will remain “reasonable”, in reality, it could result in an increase of 7 to 10 cents at the pump, estimates Le Parisien.
But gasoline is not the only everyday product to be impacted. The price of gas also jumped in a few days, just after Qatar, the main gas exporter, interrupted the activity of some of its installations. In detail, gas has exactly doubled since last Saturday, to reach €60 per megawatt (mWh).
Fortunately for the French, this increase occurs “at the end of winter“, underline the experts. But still. According to Le Parisien, this increase – visible from the month of May – risks hitting nearly 11 million French gas consumers.
And after?
Unfortunately for the French, these price increases are unlikely to stop. If Donald Trump is planning a war”only one month”nothing tells us that it will not last longer. However, the longer the war lasts, the more your wallet is likely to stick out, because the whole of Europe depends on reserves from the Middle East – notably gas shipped by sea.
Faced with this major threat, environmentalists are calling for an energy transition.fast“.
Let us also remember that each additional cent spent by the French risks weighing on the level of consumption, forcing many of them to tighten their belts in the months to come…