Middle East war: Sébastien Lecornu announces that "500 checks will be carried out" to combat "abusive increases" in petrol prices

The rise in gasoline prices is one of the consequences of the ongoing war in the Middle East.

The price of diesel has now reached €2 per liter, according to the website carbu.com, a jump of nearly 25 cents in just one week. This Sunday evening, Prime Minister Sébastien Lecornu warned that "an exceptional plan of 500 checks will be carried out at service stations between Monday and Wednesday by the fraud squad" in order to combat "abusive price increases at the pump," the Prime Minister wrote on the social network X, formerly Twitter. "This is the equivalent of a full six months of the usual inspection plan, which will be carried out in just three days," added the former Minister of Armed Forces, according to whom "the war in the Middle East cannot serve as a pretext for abusive increases in gasoline prices."

"Very bad news for French citizens"

Invited to BFMTV this Sunday at midday, Dominique de Villepin warned that the conflict, which has lasted for more than a week in the Middle East, would have consequences, particularly economic ones, for France.

"The rise in gasoline prices is very bad news for French citizens," lamented the former minister. "Answers will have to be found (to contain the price increase, editor's note), and that is Emmanuel Macron's duty," insisted the diplomat.

Prices at the pump react with a few days' delay

The rise in the price of oil is not generally passed on instantly to motorists. Between the price of a barrel of oil, often indexed to Brent crude, and the price displayed at the pump, several steps are involved: refining, transport to depots, and then distribution to service stations. Most importantly, distributors initially sell off stocks purchased at previous prices, which mechanically introduces a lag. As a result, pump prices react with a delay of a few days compared to fluctuations in crude oil prices. Economic studies show that the transmission is nevertheless rapid. According to an analysis by the Bank of France, more than half of a shock to the price of oil is passed on within a week and nearly 90% within about ten working days. The phenomenon is well known to industry specialists. In practice, service stations adjust their prices as supplies are replenished and refined fuel prices fluctuate, which explains the lag of a few days between the crude oil market and the fuel market.