Fuel prices from February 1
Like every beginning of the month, the prefecture released the new hydrocarbon prices for the month of February.
Thus, from Wednesday, the price of unleaded increases by 4 cents, the liter goes from 1.67 euro to 1.71.
For diesel, it is a slight drop of 1ct per liter, from 1.45 to 1.44
The gas bottle still benefits from the support of communities and remains at 15 €.
Below, the full press release from the prefecture:
Determinants of the observed monthly change
· Following a fatal explosion and a fire in a refinery in China, global buyers had to switch to other Asian markets, increasing the cost of unleaded, while the area also had to anticipate a significant drop in exports due to the Lunar New Year.
In January, world fuel prices were up sharply for unleaded (+11.03%) and to a lesser extent for diesel (+2.26%), impacting the final price by respectively +6 cents and + 1 cent.
As for the monthly gas quotations, they experienced a sharp drop to 605 $/MT for butane and 590 $/MT for propane (i.e. – 6.92% and – 9.23%).
· The euro continues to strengthen against the dollar (+1.56%). The average of the parities over 15 working days stands at $1.0734 for €1 for fuel and $1.0721 for gas, which has an impact of around – 1 cent for fuel and – 14 cent for the gas.
· Increase in contributions to finance aid for energy savings, ie an impact of 1 cent on fuel.
· Sea freight, falling by more than 38%, allows a reduction in the price of 2 cents per fuel.
|Product label||1-Jan-23||1-Feb-23||Change in %||Evolution in €|
|Premium fuel (€/litre)||€1.67||€1.71||2.40%||+€0.04|
|Premium fuel for sea professionals (€/litre)||€0.85||€0.87||2.35%||+€0.02|
|Diesel fuel for maritime professionals (€/litre)||€0.98||€0.96||-2.04%||-€0.02|
|Gas (€/12.5kg bottle)||€20.65||€19.95||-3.39%||Steady (15€ with local aid)|
As provided for in the regulations, the Prefect sets the prices monthly maximums of the following petroleum products:
Unleaded premium fuel
liquefied petroleum gas
These maximum prices (all taxes included) are calculated in two stages :
First of all, the maximum prices excluding tax are established at based on a calculation method mentioned in the regulations and objective data. They take into account the costs actually borne by the companies and the return on capital or, where applicable, their commercial margin.
Then the maximum prices including all taxes are determined by adding to the prices excluding tax the amount of the various applicable taxes, in particular local indirect taxation, whose rates and tariffs are determined by the Regional Council and whose revenue contributes to the financing of the region and all the municipalities. Unlike France, the State collects neither VAT nor internal consumption tax on energy products (TICPE) on fuel consumed in Reunion.
The price, margin and revenue observatory was informed of the plan to revise maximum prices, prior to their application.