In February 2013, further increase in oil pricesPrices of oil and raw material imports - February 2013

In February, the price of crude oil in euro terms continued to grow (+3.4% after +1.2% in January), reaching €84.3 per barrel of Brent. In euro terms, the prices of commodities except energy imported into France remained stable (+0.1% after -0.2% in January).

In February, the price of crude oil in euro terms continued to grow (+3.4% after +1.2% in January), reaching €84.3 per barrel of Brent. In euro terms, the prices of commodities except energy imported into France remained stable (+0.1% after -0.2% in January).

Oil prices accelerated

In February, the price of crude oil from the North Sea (Brent) in euro terms rose again (+3.4% after +1.2%). In dollar terms, the price increase was a little more marked (+3.8% after +2.6%), due to a further depreciation of the dollar against the European currency (-0.4%). Oil prices stood at $116.4 per barrel of Brent.

Imported industrial raw material prices slowed down

In February, the increase in prices of industrial raw materials in euro terms moderated (+0.5% after +1.0%). On the one hand, mineral raw materials prices grew less sharply than in January (+0.7% after +1.4%). Precious metals prices went on declining (-1.8% after –1.9%), especially those of gold (-3.0%) and silver (-2.9%). Meanwhile, iron ore prices significantly slowed down (+2.3% after +15.3%). By contrast, non-ferrous metals prices picked up slightly (+0.6% after –1.6%), driven by the increase in the prices of nickel (+1.1%), zinc (+4.1%) and to lesser extent aluminum (+0.3%). Copper prices, however, dipped again (-0.2%).

On the other hand, agricultural raw materials prices slipped (-0.1% after +0.3%). Indeed, the prices of sawn softwood (-0.9%), tropical wood (-3.6%) and natural rubber (-0.5%) declined. Natural textile fibers prices, however, firmed up (+3.9% after +1.3%), due to the strenghthening of cotton prices (+4.5% after +1.5% ).

The drop in raw food materials prices moderated

In February, the prices of raw food materials in euro terms fell less sharply than in January (-0.7% after -2.2%).

Tropical foodstuff prices went on decreasing (-3.1% after –3.9%), notably those of arabica (–6.4%), cocoa (-3.4%) and tea (–5.7%). Sugar prices (-3.0%) and beef prices (-1.7%) were lower too. The drop in cereals prices continued (-0.7% after –0.5%), mainly for corn (–1.4%). Oilseeds prices, however, rebounded (+1.6% after –3.6%), notably those of soybean meal (+1.5% after –7.4%) and soybean (+1.9 after –2.8%), in the wake of a deteriorating outlook for the soybean crop in Argentina, due to insufficient rains.

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 116.4 3.8 6.5 –1.6
Brent in € per barrel 87.2 3.4 2.3 –2.4
Gasoline €/L 0.604 6.4 3.3 0.2
Gas Oil 746.4 3.5 2.3 –1.7
Heavy fuel 499.5 4.4 5.0 –8.1
Naphtha 737.9 5.2 1.7 –4.8
  • 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 (%)
over the last month over the last 3 months over the last 12 months
Food total 183.7 –0.7 –6.7 2.0
Tropical foodstuff 143.4 –3.1 –11.6 –13.2
Oil seeds. vegetable oils 238.8 1.6 –5.6 20.9
Cereals 210.2 –0.7 –7.1 5.9
Sugar 152.8 –3.0 –9.3 –27.4
Beef meat 114.4 –1.7 –0.6 –3.6
Industrial raw materials 182.7 0.5 4.4 –1.7
Agricultural raw materials 111.0 –0.1 2.2 5.5
Natural Fibers 128.8 3.9 6.4 –11.8
Natural rubber 322.9 –0.5 4.6 –19.2
Hides 85.8 5.1 8.4 25.0
Wood pulp 84.8 0.5 –0.7 –1.3
Tropical wood 96.5 –3.6 –6.9 –5.6
Sawn softwood 103.0 –0.9 8.3 43.0
Minerals 222.4 0.7 5.2 –3.9
Iron ore 857.4 2.3 23.5 9.2
Non-ferrous metals 165.3 0.6 2.4 –6.9
Precious metals 294.2 –1.8 –6.9 –6.9
All commodities 176.1 0.1 0.2 –0.5
  • Source : INSEE

G_petrole_ang – Oil

  • Source : INSEE

G_alim_ang – Food

  • Source : INSEE

G_ensemble_ang – All commodities

  • Source : INSEE

G_indus_ang – Industrial raw materials

  • Source : INSEE