In March 2015, oil prices rose slightlyPrices of oil and raw material imports - March 2015

In March 2015, the price of crude oil in euros increased again (+1.1%), but more moderately than in February (+22.5%). It averaged 51.6€ per barrel of Brent. Prices of imported commodities except energy in euros climbed (+2.7%), either for raw food materials (+2.6%) or industrial raw materials (+2.7%).

Informations rapides
No 91
Paru le : 17/04/2015
Prochaine parution le : 19/10/2017 at 12:00 - September 2017

Warning : As usual in March, weights for the current year have been updated, leading to a revision of aggregate price indices since the beginning of the year.

In March 2015, the price of crude oil in euros increased again (+1.1%), but more moderately than in February (+22.5%). It averaged 51.6€ per barrel of Brent. Prices of imported commodities except energy in euros climbed (+2.7%), either for raw food materials (+2.6%) or industrial raw materials (+2.7%).

Oil prices in euros went up slightly

In March, the price of crude oil from the North Sea (Brent) in dollars weakened (-3.7% after +19.6%) in a plentiful worldwide output and a high inventory level backdrop in the USA. In euros, the rise in the Brent price was more moderate in March (+1.1%) than in February (+22.5%), the European currency kept depreciating against the dollar (-4.7% in March 2015).

Prices of industrial raw materials remained buoyant

In March, prices of industrial raw materials in euros picked up slightly (+2.7% after +2.4% in February), due to a recovery in agricultural raw materials (+0.4% after -0.2%).

Prices of minerals remained vigorous (+3.5% after +3.4%), in particular those of non-ferrous metals (+4.9% after +5.0%), even though prices of nickel went down (-0.7% after +0.7%), as a result of a weaker expected stainless steel demand in Europe. Prices of precious metals fell back (–0.1% after +0.9%), in particular those of palladium (-5.5% after +8.3%). Finally, prices of iron ore decreased again (–4.6% after -4.7%), on account of a slowing Chinese demand even though the supply in both Brazil and Australia remained dynamic.

Prices of agricultural raw materials recovered (+0.4% after –0.2%), driven by accelerating natural rubber prices (+2.9% after +0.8%), and rallying paper pulp prices (+2.7% after –0.5%). However, prices of tropical wood decelerated (+2.6% after +3.5%), and those of sawn softwood plummeted (-5.2% after –0.8%).

Prices of raw food materials accelerated

In March, prices of raw food materials in euros accelerated (+2.6% after +0.9%), in particular those of cereals (+3.5% after +2.0%), as a result of a downward reassessment of worldwide corn inventories. Prices of oil seeds and vegetable oils picked up (+1.7% after -4.7%). Prices of tropical foodstuffs slowed (+1.4% after +2.9%), due to a marked drop in those of arabica (-8.7% after -6.3%), as a result of a plentiful supply and the depreciation of the Brazilian real against the dollar. The same applied for the prices of sugar (-7.1% after -1.3%) for which Brazil is the world’s leading producer.

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 55.8 –3.7 –10.2 –48.3
Brent in € per barrel 51.6 1.1 2.2 –33.9
Gasoline €/L 0.41 12.0 27.6 –21.3
Gas Oil 503.7 1.2 8.3 –22.8
Heavy fuel 289.4 –3.5 18.8 –33.7
Naphtha 468.9 8.3 13.5 –28.7
  • 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 Change (%)
over the last month over the last 3 months over the last 12 months
Food total 225.6 2.6 8.4 15.1
Tropical foodstuffs 209.8 1.4 10.1 20.3
Oil seeds,vegetable oils 246.6 1.7 1.8 2.9
Cereals 163.2 3.5 9.8 10.7
Sugar 132.9 –7.1 –2.5 –6.6
Beef meat 194.5 6.3 18.7 36.1
Industrial raw materials 172.6 2.7 7.4 13.9
Agricultural raw materials 121.0 0.4 7.3 14.4
Natural Fibers 121.9 4.2 14.9 –6.4
Natural rubber 168.1 2.9 3.5 –16.4
Hides 110.0 5.4 10.1 19.8
Wood pulp 111.0 2.7 8.1 22.9
Tropical wood 115.5 2.6 9.1 15.3
Sawn softwood 95.0 –5.2 –3.8 0.4
Minerals 200.9 3.5 7.9 14.2
Iron ore 389.8 –4.6 –5.8 –34.9
Non-ferrous metals 171.1 4.9 7.9 25.8
Precious metals 250.5 –0.1 14.4 11.6
All commodities 184.9 2.7 8.1 14,7
  • 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