In August 2015, oil prices declined sharply againPrices of oil and raw material imports - A

In August 2015, the price of crude oil in euros declined sharply (–16.8% after –8.7% in July), to average 42.2€ per barrel of Brent. The price tumbled by 44.9% compared to its level in August 2014 (76.6€). Prices in euros of imported commodities except energy fell back (–3.4% after +0.6%): this downturn became widespread both in industrial raw materials (–3.3%) and in raw food materials (–3.5%).

Informations rapides
No 220
Paru le : 11/09/2015
Prochaine parution le : 21/11/2017 at 12:00 - October 2017

In August 2015, the price of crude oil in euros declined sharply (–16.8% after –8.7% in July), to average 42.2€ per barrel of Brent. The price tumbled by 44.9% compared to its level in August 2014 (76.6€). Prices in euros of imported commodities except energy fell back (–3.4% after +0.6%): this downturn became widespread both in industrial raw materials (–3.3%) and in raw food materials (–3.5%).

Oil prices in euros decreased more

As a result of a still high supply in Saudi Arabia and despite a slight decrease in the American production, the price of crude oil from the North Sea (Brent) in euros slumped (–16.8% after –8.7%). It dropped a little less in dollars (–15.9% after –10.4%), as the euro appreciated against the American currency (+1.1%).

Prices of industrial raw materials kept dropping

Prices of industrial raw materials in euros went down again (–3.3% after –1.7%), mainly due to a drop in agricultural raw materials (–4.7%).

Prices of minerals kept falling at the same rate as in July (–2.8%). In effect, the economic slowdown in China affected prices of non-ferrous metals (–4.0% after –0.9%), in particular those of nickel (–10.4% after –9.2%) and of zinc (–10.7% after -2.2%). Among precious metals, prices of gold kept dipping (–2.2% after –4.6%) along with those of palladium (–2.9% after –7.7%), in connection with a declining Chinese automotive sector. However, prices of iron ore bounced back (+6.3% after –15.7%, –28.5% year-on-year), due to a dropping Chinese output.

Prices of agricultural raw materials edged down (–4.7% after +1.5%). In particular prices of natural rubber plummeted (–16.0% after –8.1%), as a result of a competitive synthetic rubber production that benefited from the drop in oil prices. However, over a year, agricultural raw materials went higher (+2.9%).

Prices of raw food materials fell back

Prices of raw food materials in euros decreased (–3.5% after +3.3%). Prices of oil seeds and vegetable oils took a downturn (–3.0% after +9.1%), due to a downfall in palm oil prices (–16.8% after –3.2%), prompted by a rise in supply in South-East Asia. The low price level of oil weighed on vegetable oils. Prices of cereals dipped too (–6.8% after +9.4%), in particular those of maize (–10.5% after +13.7%) and of rice (–4.2% after +6.7%). The rice market showed both a high competition on exports and a low demand. Price of sugar tumbled (–11.2% after +3.1%), due to a high supply.

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 47.0 –15.9 –27.2 –53.9
Brent in € per barrel 42.2 –16.8 –27.0 –44.9
Gasoline €/L 0.40 –16.7 –12.2 –25.0
Gas Oil 416.2 –12.1 –22.6 –36.3
Heavy fuel 226.0 –19.0 –31.6 –49.0
Naphtha 372.9 –13.9 –25.1 –43.0
  • 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 221.2 –3.5 1.9 9.5
Tropical foodstuffs 215.4 –5.3 2.3 13.6
Oil seeds, vegetable oils 251.6 –3.0 8.2 4.0
Cereals 150.1 –6.8 0.1 7.5
Sugar 107.4 –11.2 –15.8 –19.7
Beef meat 176.4 0.1 –4.6 18.3
Industrial raw materials 150.4 –3.3 –10.0 –8.4
Agricultural raw materials 111.5 –4.7 –0.4 2.9
Natural fibres 123.4 –1.8 –1.0 15.9
Natural rubber 136.8 –16.0 –23.3 –24.6
Hides 74.1 –3.8 –24.9 –23.3
Wood pulp 103.2 –1.7 –0.5 9.0
Tropical wood 116.8 –0.9 1.1 11.6
Sawn softwood 88.6 –9.0 7.1 –9.6
Minerals 171.6 –2.8 –13.0 –11.7
Iron ore 368.4 6.3 –7.8 –28.5
Non-ferrous metals 143.9 –4.0 –13.9 –10.2
Precious metals 221.6 –1.5 –10.3 –4.2
All commodities 170.0 –3.4 –4.8 –0.6
  • 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