In April 2016, oil prices slackenedPrices of oil and raw material imports - April 2016

In April 2016, the crude oil price in euros slowed (+6.1%) after a substantial hike in March (+17.3%). Since February, the rise in price only partly offset the past downward trend: standing at €38.1 on average per barrel of Brent, this price was 32.1% lower than one year ago.

In April 2016, the crude oil price in euros slowed (+6.1%) after a substantial hike in March (+17.3%). Since February, the rise in price only partly offset the past downward trend: standing at €38.1 on average per barrel of Brent, this price was 32.1% lower than one year ago.

Prices in euros of the other imported commodities slowed down as well (+0.8% after +4.2%). In effect, industrial raw materials prices decelerated (+1.7% after +6.2%) and raw food materials prices edged down (−0.5% after +1.9%).

Oil prices increased again but less than in March

In April, the price of crude oil from the North Sea (Brent) in euros climbed again (+6.1%), but less vigourously than in March (+17.3%). In dollars, the price rise was stronger (+8.1% after +17.7%) since the euro appreciated during the month.

G_petrole_ang – Oil (Brent)

  • Source: INSEE

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 42.3 8.1 37.2 –28.9
Brent in € per barrel 37.3 6.1 31.2 –32.1
Gasoline €/L 0.34 18.3 34.4 –19.7
Gas Oil 326.3 2.2 21.9 –37.0
Heavy fuel 191.4 17.3 20.3 –43.7
Naphtha 327.0 5.7 7.6 –30.9
  • Prices are in euros per tonne unless otherwise specified.
  • Source: INSEE

Prices of industrial raw materials slowed

Prices of industrial raw food materials in euros grew again, but not as strongly as in March (+1.7% after +6.2%) due to the deceleration in agricultural raw materials prices (+1.2% after +6.0%) and mineral prices (+1.8% after +6.6%). As for agricultural raw materials, the further rise in natural rubber prices (+17.2% after +19.9%) due to a severe drought in South-East Asia was partially offset by the fall in other commodities, in particuler wood pulp (−1.9% after −0.7%).

Among minerals, the price of iron ore slackened sharply (+5.3% after +19.8%). Those of precious metals were less buoyant (+2.2% after +3.3%). The price of gold, in particular, declined (−2.0% after +3.2%), due to lessening demand in electronics industry.

G_indus_ang – Industrial raw materials

  • Source: INSEE

Prices of raw food materials slipped back

Prices of raw food materials in euros faltered in April (−0.5% after +1.9%). On the one hand, sugar price fell back significantly (−4.6% after +15.5%), as a result of a crop that was not as bad as forecast in Brazil and of a downward trend in ethanol demand faced with petroleum-based fuels whose prices remained low. Furthermore, the price of beef meat dipped sharply (−8.2% after +1.2%) and prices of tropical foodstuffs shrank (−2.1% after +4.0%).

G_alim_ang – Food

  • Source: INSEE

G_ensemble_ang – Imported raw materials (excluding energy)

  • 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 201.8 –0.5 –1.1 –8.9
Tropical foodstuffs 198.7 –2.1 –2.6 –4.3
Oil seeds, vegetable oils 220.7 4.9 4.9 –7.9
Cereals 148.3 0.1 –0.3 –7.1
Sugar 148.1 –4.6 0.4 10.7
Beef meat 150.9 –8.2 –10.9 –20.9
Industrial raw materials 152.8 1.7 11.0 –10.4
Agricultural raw materials 111.5 1.2 5.0 –4.0
Natural Fibres 118.2 3.4 –3.0 –6.3
Natural rubber 157.8 17.2 43.5 –6.4
Hides 73.8 –2.2 –6.0 –29.4
Wood pulp 94.4 –1.9 –4.9 –12.5
Tropical wood 105.2 –1.2 –5.0 –8.6
Sawn softwood 94.9 0.4 10.4 8.9
Minerals 175.3 1.8 13.1 –12.6
Iron ore 389.0 5.3 38.2 11.1
Non-ferrous metals 143.5 0.9 8.1 –16.8
Precious metals 235.1 2.2 11.0 –7.9
All commodities 165.0 0.8 5.9 –9.4
  • Source: INSEE