In France, petrol prices are on a downward trend, with unleaded petrol averaging â¬1.667 per litre and diesel at â¬1.561, decreases from last year. Crude oil prices have reached their lowest levels since February 2021, prompting speculation about ongoing reductions in fuel costs. OPEC's recent decision to enhance production by an additional 411,000 barrels per day aims to address market dynamics influenced by geopolitical tensions and member compliance. However, OPEC cautions that such increases may be temporary, indicating future price volatility as conditions evolve.
As of May 7th, one litre of unleaded petrol cost on average â¬1.667; diesel was at â¬1.561, marking significant year-on-year decreases in fuel prices.
OPEC's decision to ramp up oil production is influenced by political tensions and aims to stabilize its member countries, even as price changes may be temporary.
The price of petrol is directly influenced by crude oil prices, which declined significantly after OPEC confirmed its production increases amidst challenging global conditions.
With crude oil prices hitting lows not seen since February 2021, fuel prices could continue to drop, benefiting motorists in the near future.
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