French government spokesperson says situation ‘extremely uncertain’ amid fuel price rise

The situation surrounding rising fuel prices is “extremely uncertain” due to escalating geopolitical tensions, French government spokesperson Maud Bregeon said Tuesday.

Speaking to public broadcaster France 2, Bregeon linked the price increase to developments in the Middle East.

“These are obviously the consequences of what is happening in the Middle East. The French know this and I understand that it is very difficult for many of our fellow citizens,” she said, citing price “fluctuations that are hard to anticipate.”

“The trend as we speak is upward. I am not able to tell you what will happen in the coming days or weeks,” Bregeon said.

She noted that the government had introduced assistance for “the most exposed sectors” and “the most vulnerable French citizens” to mitigate the effects of rising prices.

“This aid is still in place,” she said, adding that eligible people could access the support until the end of August.

Asked whether the measures would be extended, Bregeon said the government “will take stock by the end of August.”

Oil prices have rebounded since the beginning of July as renewed hostilities reversed part of the losses triggered by an interim US-Iran agreement that had raised expectations of safer transit through the Strait of Hormuz and increased regional energy supplies.

The latest escalation has also weakened hopes for renewed negotiations, with Tehran demanding that Washington first fulfill previous commitments on shipping through the Strait of Hormuz and Iranian oil exports.