In September 2015, weakening oil prices were at a standstillPrices of oil and raw material imports - September 2015

In September 2015, the crude oil price fall in euros almost broke off (–0.3% after –16.8% in August). Standing at €42.1 on average per barrel of Brent, this price tumbled by 44.2% compared to its level in September 2014 (€75.5). Prices in euros of imported commodities except energy declined again (–1.8% after –3.4%) : this shrinkage was driven by the raw food materials (–4.6 %), while those of industrial raw materials increased (+0.4%),

In September 2015, the crude oil price fall in euros almost broke off (–0.3% after –16.8% in August). Standing at €42.1 on average per barrel of Brent, this price tumbled by 44.2% compared to its level in September 2014 (€75.5). Prices in euros of imported commodities except energy declined again (–1.8% after –3.4%) : this shrinkage was driven by the raw food materials (–4.6 %), while those of industrial raw materials increased (+0.4%),

Oil prices in euros decreased less sharply

As a result of a drop in output both in Saudi Arabia and in the United States, the price of crude oil from the North Sea (Brent) in euros stopped falling (–0.3% after –16.8%). It even bounced back slightly in dollars (+0.5% after –15.9%), as the euro appreciated against the American currency.

Prices of industrial raw materials picked up

Prices of industrial raw materials in euros picked up (+0.4% after –3.3%), mainly due to a rise in prices of minerals when the decrease in those of agricultural raw materials eased.

Prices of minerals recovered (+1.9% after -2.8%). In effect, prices of non-ferrous metals rallied (+2.4% after –4.0%), due to aluminum prices (+2.4% after –7.0%). On the other hand, prices of nickel dipped (–4.8%), as a result of a lower demand in China and very high levels of inventories. Zinc, mostly used in automotive and building industries dropped as well for the same reasons (–5.7%). Among precious metals, prices of platine slumped (–11.0% after +1.6%) following the controversial issue on diesel engines. Those of palladium bounced back (+8.1% after –2.9%). This metal was used in the making of gasoline engines. Prices of iron ore decelerated (+1.1% after +6.3%; –21.1% year-on-year).

Prices of agricultural raw materials went down again (–4.4% after –4.7%; –4.3% year-on-year). In particular, prices of natural rubber dropped again sharply (–10.4% after –16.0%).

Prices of raw food materials decreased again

Prices of raw food materials in euros came down again (–4.6% after –3.5%), in particular those of oil seeds and vegetable oils (–5.8% after –3.0%) and of cereals (–2.5% after –6.8%). Prices of cereals dipped due to rice (–5.2% after –4.2%), while those of corn recovered (+0.9% after –10.5%) and despite a slight rise in corn prices due to a tight supply. Prices of sugar bounced back (+5.2% after –11.2%), due to bad weather conditions in Brazil and in India.

tabpetrole – Oil and petroleum products

in euros
Oil and petroleum products
Prices Change (%)
of last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 47.2 0.5 –24.3 –51.5
Brent in € per barrel 42.1 –0.3 –24.2 –44.2
Gasoline €/L 0,32 –20.7 –32.7 –40.4
Gas Oil 419.3 0.8 –18.9 –35.0
Heavy fuel 221.6 –1.9 –32.0 –49.5
Naphtha 367.6 1.4 –18.9 –44.1
  • Prices are in euros per tonne unless otherwise specified
  • Source: INSEE

tabmatprem – Imported raw materials (excluding energy) in euros

base 100 in 2000
Imported raw materials (excluding energy) in euros
Index Changes (%)
of last month over the last month over the last 3 months over the last 12 months
Food total 211.0 –4.6 –4.9 1.6
Tropical foodstuffs 215.5 0.1 –1.9 11.1
Oil seeds, vegetable oils 237.0 –5.8 –0.4 –7.8
Cereals 146.3 –2.5 –0.6 4.5
Sugar 113.0 5.2 –3.6 –10.8
Beef meat 154.1 –12.7 –18.1 3.7
Industrial raw materials 148.3 0.4 –7.8 –9.4
Agricultural raw materials 106.0 –4.4 –8.4 –4.3
Natural Fibres 117.4 –4.9 –6.4 7.9
Natural rubber 122.6 –10.4 –30.8 –30.2
Hides 77.6 4.8 –19.2 –23.7
Wood pulp 101.5 –1.6 –1.5 3.7
Tropical wood 114.1 –2.3 –1.3 8.3
Sawn softwood 79.1 –8.8 –15.8 –20.7
Minerals 171.1 1.9 –7.9 –10.9
Iron ore 372.5 1.1 –9.4 –21.1
Non-ferrous metals 143.4 2.4 –7.6 –10.9
Precious metals 217.3 –1.9 –7.8 –1.9
All commodities 165.3 –1.8 –6.3 –4.3
  • Source: INSEE

G_petrole_ang – Oil (Brent)

  • Source: INSEE

G_alim_ang – Food

  • Source: INSEE

G_ensemble_ang – Imported raw materials (excluding energy)

  • Source: INSEE

G_indus_ang – Industrial raw materials

  • Source: INSEE