Insee
Informations Rapides · 22 September 2023 · n° 241
Informations rapidesIn August 2023, oil prices in euros accelerated significantly Prices of oil and raw material imports - August 2023

In August 2023, oil prices in euros accelerated significantly (+8.9% month-on-month after +4.9% in July). Conversely, the prices in euros of imported raw materials (excluding energy) fell slightly again (‑0.5% after ‑0.7%), due to both food commodity prices (‑0.5% after +0.1%) and industrial raw material prices (‑0.4% after ‑1.6%).

Informations rapides
No 241
Paru le :Paru le22/09/2023
Prochaine parution le : 22/12/2023 at 12:00 - November 2023

In August 2023, oil prices in euros accelerated significantly (+8.9% month-on-month after +4.9% in July). Conversely, the prices in euros of imported raw materials (excluding energy) fell slightly again (‑0.5% after ‑0.7%), due to both food commodity prices (‑0.5% after +0.1%) and industrial raw material prices (‑0.4% after ‑1.6%).

Imported raw materials (excluding energy)

index 2010=100
Imported raw materials (excluding energy) (index 2010=100)
Prices in foreign currencies Prices in euros
2023-08 125.5 150.2
2023-07 127.8 150.9
2023-06 126.1 152.0
2023-05 125.4 150.7
2023-04 129.9 154.9
2023-03 129.0 157.5
2023-02 130.8 159.6
2023-01 129.7 157.5
2022-12 125.3 154.7
2022-11 121.1 155.1
2022-10 121.6 161.6
2022-09 123.9 163.4
2022-08 131.0 169.0
2022-07 131.4 168.8
2022-06 140.7 174.2
2022-05 143.9 178.0
2022-04 152.7 184.8
2022-03 152.9 181.8
2022-02 142.3 164.4
2022-01 137.3 159.0
2021-12 131.8 152.7
2021-11 126.1 144.7
2021-10 129.6 146.3
2021-09 127.1 141.4
2021-08 130.2 144.9
2021-07 132.4 146.7
2021-06 133.5 145.1
2021-05 135.7 146.4
2021-04 127.5 139.6
2021-03 120.3 132.5
2021-02 117.0 126.7
2021-01 113.8 122.5
2020-12 110.4 118.7
2020-11 102.2 113.0
2020-10 98.7 109.7
2020-09 99.0 109.7
2020-08 96.7 106.8
2020-07 90.8 103.5
2020-06 88.2 102.3
2020-05 87.3 104.7
2020-04 83.6 100.5
2020-03 87.1 102.8
2020-02 90.1 107.9
2020-01 92.8 109.2
2019-12 91.7 107.9
2019-11 89.1 105.3
2019-10 88.2 104.3
2019-09 88.9 105.4
2019-08 89.3 104.8
2019-07 95.3 111.1
2019-06 93.6 108.3
2019-05 91.8 107.2
2019-04 93.2 108.4
2019-03 91.0 105.2
2019-02 91.6 105.5
2019-01 88.8 101.6
2018-12 87.0 99.8
2018-11 88.9 102.1
2018-10 90.1 102.5
2018-09 87.0 97.5
2018-08 88.6 100.2
2018-07 91.3 102.2
2018-06 95.6 107.3
2018-05 96.2 106.7
2018-04 95.0 101.5
2018-03 95.0 101.0
2018-02 95.9 101.8
2018-01 94.5 101.6
2017-12 91.7 101.4
2017-11 91.9 102.5
2017-10 91.2 101.5
2017-09 92.9 102.1
2017-08 94.1 104.3
2017-07 92.6 105.2
2017-06 89.7 104.4
2017-05 89.9 106.3
2017-04 90.9 110.7
2017-03 95.5 116.8
2017-02 96.0 117.8
2017-01 93.2 114.7
2016-12 90.9 112.6
2016-11 89.6 108.5
2016-10 84.4 100.1
2016-09 83.6 97.6
2016-08 84.7 98.8
2016-07 85.1 100.6
2016-06 82.9 96.7
2016-05 80.8 93.6
2016-04 81.0 93.6
2016-03 78.2 92.2
2016-02 74.8 88.3
2016-01 72.9 87.9
2015-12 73.6 88.4
2015-11 74.9 91.2
2015-10 78.1 91.1
2015-09 78.9 92.2
2015-08 80.0 94.1
2015-07 81.4 97.2
2015-06 84.4 98.9
2015-05 85.0 100.0
2015-04 83.6 101.8
2015-03 84.6 102.4
2015-02 87.0 100.9
2015-01 90.0 102.0
2014-12 93.5 100.5
2014-11 96.0 102.0
2014-10 96.6 101.3
2014-09 98.4 101.4
2014-08 102.0 102.0
2014-07 103.1 101.6
2014-06 101.4 99.5
2014-05 103.5 100.7
2014-04 106.9 103.5
2014-03 105.2 101.7
2014-02 103.6 101.3
2014-01 103.0 101.1
2013-12 103.8 101.4
2013-11 100.9 99.8
2013-10 100.4 98.3
2013-09 100.0 99.8
2013-08 102.6 102.7
2013-07 102.2 103.9
2013-06 100.4 101.3
2013-05 102.6 105.1
2013-04 103.8 105.9
2013-03 104.9 107.5
2013-02 107.8 107.5
2013-01 106.6 106.8

Imported raw materials (excluding energy)

  • Source: INSEE

Oil prices continued to rise sharply

In August 2023, the price of North Sea crude oil (Brent) in dollars increased sharply again (+7.4% after +7.0% in July), averaging $86.1 per barrel. In euros, the price per barrel accelerated more significantly (+8.9% after +4.9%), due to the decline of the euro against the dollar over the period.

Oil (Brent)

price per barrel
Oil (Brent) (price per barrel)
Prices in dollars Prices in euros
2023-08 86.1 78.9
2023-07 80.1 72.4
2023-06 74.8 69.0
2023-05 75.6 69.6
2023-04 84.7 77.2
2023-03 78.4 73.3
2023-02 82.8 77.3
2023-01 82.5 76.6
2022-12 81.0 76.5
2022-11 91.4 89.7
2022-10 93.3 95.0
2022-09 89.7 90.6
2022-08 100.6 99.4
2022-07 111.9 109.9
2022-06 122.0 115.5
2022-05 113.1 106.9
2022-04 104.9 96.7
2022-03 117.2 106.4
2022-02 96.8 85.4
2022-01 86.5 76.5
2021-12 74.4 65.8
2021-11 81.0 71.0
2021-10 83.5 72.0
2021-09 74.5 63.3
2021-08 70.9 60.2
2021-07 75.1 63.5
2021-06 73.2 60.8
2021-05 68.5 56.4
2021-04 64.8 54.1
2021-03 65.4 55.0
2021-02 62.3 51.5
2021-01 54.8 45.0
2020-12 50.0 41.1
2020-11 42.7 36.1
2020-10 40.2 34.1
2020-09 40.9 34.7
2020-08 44.8 37.8
2020-07 43.2 37.7
2020-06 40.3 35.8
2020-05 29.4 27.5
2020-04 18.5 16.9
2020-03 31.9 28.8
2020-02 55.7 51.1
2020-01 63.6 57.3
2019-12 67.2 60.4
2019-11 63.2 57.2
2019-10 59.7 54.0
2019-09 62.8 57.1
2019-08 59.0 53.1
2019-07 63.9 57.0
2019-06 64.3 56.9
2019-05 71.2 63.6
2019-04 71.2 63.4
2019-03 66.1 58.5
2019-02 64.0 56.4
2019-01 59.4 52.0
2018-12 56.5 49.8
2018-11 64.7 57.0
2018-10 81.0 70.6
2018-09 78.9 67.7
2018-08 72.5 62.8
2018-07 74.3 63.5
2018-06 74.4 63.7
2018-05 76.9 65.2
2018-04 72.0 58.7
2018-03 66.0 53.5
2018-02 65.3 52.9
2018-01 69.1 56.6
2017-12 64.4 54.4
2017-11 62.7 53.4
2017-10 57.5 48.9
2017-09 55.5 46.6
2017-08 51.9 44.0
2017-07 49.1 42.6
2017-06 47.6 42.4
2017-05 51.4 46.5
2017-04 53.8 50.1
2017-03 52.6 49.2
2017-02 56.0 52.6
2017-01 55.4 52.2
2016-12 54.9 52.1
2016-11 47.1 43.7
2016-10 51.4 46.6
2016-09 47.7 42.5
2016-08 46.8 41.8
2016-07 45.3 41.0
2016-06 48.2 43.0
2016-05 46.7 41.3
2016-04 41.6 36.7
2016-03 38.2 34.4
2016-02 32.2 29.0
2016-01 30.7 28.3
2015-12 38.0 35.0
2015-11 44.3 41.2
2015-10 48.4 43.1
2015-09 47.6 42.4
2015-08 46.6 41.9
2015-07 56.6 51.4
2015-06 61.5 54.8
2015-05 64.1 57.5
2015-04 59.5 55.4
2015-03 57.3 52.8
2015-02 58.2 51.3
2015-01 50.1 43.1
2014-12 64.2 52.2
2014-11 80.8 64.8
2014-10 88.7 70.0
2014-09 98.9 76.7
2014-08 103.5 77.7
2014-07 108.6 80.2
2014-06 111.9 82.3
2014-05 109.2 79.6
2014-04 108.0 78.1
2014-03 107.9 78.0
2014-02 108.7 79.6
2014-01 107.6 79.0
2013-12 110.7 80.7
2013-11 107.7 79.9
2013-10 109.4 80.2
2013-09 111.6 83.6
2013-08 110.1 82.8
2013-07 107.7 82.3
2013-06 102.8 78.0
2013-05 103.0 79.4
2013-04 103.8 79.5
2013-03 109.7 84.6
2013-02 116.4 87.1
2013-01 112.0 84.3

Oil (Brent)

  • Source: INSEE

Petroleum

Petroleum
prices of last month changes (in %)
M/M-1 M/M-3 M/M-12
Brent in $ per barrel 86.1 7.4 13.9 -14.5
Brent in € per barrel 78.9 8.9 13.4 -20.6
Gasoline cts €/L 69.6 8.0 11.6 -11.8
Gas Oil 834.2 18.6 33.4 -20.6
Heavy fuel 497.5 17.2 32.4 3.8
Naphtha 585.0 15.4 8.0 -11.5
  • Prices are in euros per tonne unless otherwise specified
  • Source: INSEE

Industrial raw material prices in euros decreased again

In August 2023, prices in euros of industrial raw materials continued to diminish (‑0.4% after ‑1.6% in July), particularly those of minerals (‑0.5% after ‑1.9%): ferrous metal prices fell again (‑1.5%, as in July), as did those for precious metals (‑0.4% after ‑1.4%). Conversely, prices for non-ferrous metals rebounded slightly (+0.3% after ‑2.3%).

Prices of agro-industrial raw materials, for their part, were virtually stable (‑0.1% after +0.5%). Prices for natural textile fibres bounced back (+4.8% after ‑1.5%), as did those for hides (+1.4% after ‑2.1%) and natural rubber (+1.2% after ‑3.6%). Pulp prices slowed (+0.8% after +2.1%), while sawn softwood prices retreated (‑4.7% after +1.8%). Finally, prices for tropical woods remained stable.

Industrial raw materials

index 2010=100
Industrial raw materials (index 2010=100)
Prices in foreign currencies Prices in euros
2023-08 99.5 120.4
2023-07 101.2 120.9
2023-06 100.8 122.9
2023-05 99.9 121.6
2023-04 106.5 128.6
2023-03 109.0 134.8
2023-02 111.9 138.4
2023-01 112.7 138.7
2022-12 107.1 133.7
2022-11 99.5 128.7
2022-10 97.2 130.4
2022-09 100.1 133.5
2022-08 106.4 139.1
2022-07 104.7 136.4
2022-06 117.6 147.7
2022-05 124.6 156.2
2022-04 139.7 171.8
2022-03 144.9 175.1
2022-02 133.4 156.6
2022-01 127.0 149.4
2021-12 119.9 141.1
2021-11 111.6 130.0
2021-10 120.3 137.8
2021-09 117.8 133.1
2021-08 123.4 139.3
2021-07 134.6 151.4
2021-06 137.0 151.2
2021-05 140.0 153.4
2021-04 128.4 142.6
2021-03 121.4 135.7
2021-02 118.3 130.2
2021-01 115.5 126.3
2020-12 110.9 121.0
2020-11 96.9 108.6
2020-10 92.7 104.4
2020-09 94.6 106.3
2020-08 93.0 104.1
2020-07 84.4 97.4
2020-06 79.0 92.8
2020-05 73.8 89.5
2020-04 70.8 86.1
2020-03 74.6 89.2
2020-02 78.0 94.6
2020-01 82.2 98.0
2019-12 80.3 95.6
2019-11 77.7 93.0
2019-10 78.7 94.1
2019-09 80.8 97.0
2019-08 79.9 95.0
2019-07 89.0 105.1
2019-06 84.9 99.6
2019-05 83.2 98.4
2019-04 83.9 99.0
2019-03 82.1 96.4
2019-02 82.1 95.9
2019-01 76.4 88.7
2018-12 74.9 87.1
2018-11 77.1 89.7
2018-10 78.4 90.3
2018-09 76.7 87.1
2018-08 77.5 88.8
2018-07 78.4 89.0
2018-06 82.5 94.0
2018-05 83.3 93.9
2018-04 82.6 89.8
2018-03 82.1 88.7
2018-02 86.0 92.8
2018-01 85.6 93.4
2017-12 81.5 91.5
2017-11 79.9 90.4
2017-10 78.8 89.1
2017-09 80.9 90.3
2017-08 79.6 89.5
2017-07 73.9 85.1
2017-06 69.8 82.4
2017-05 71.6 85.7
2017-04 75.0 92.6
2017-03 80.6 99.8
2017-02 81.1 100.9
2017-01 76.5 95.4
2016-12 75.2 94.4
2016-11 71.6 88.0
2016-10 64.5 77.7
2016-09 63.6 75.3
2016-08 65.4 77.5
2016-07 64.3 77.1
2016-06 60.9 72.1
2016-05 61.6 72.4
2016-04 63.2 74.2
2016-03 60.7 72.8
2016-02 56.2 67.3
2016-01 53.5 65.4
2015-12 54.1 66.1
2015-11 55.9 69.3
2015-10 60.4 71.6
2015-09 62.2 73.8
2015-08 61.9 74.1
2015-07 63.5 77.1
2015-06 68.8 81.9
2015-05 70.1 83.8
2015-04 67.0 82.9
2015-03 68.1 83.8
2015-02 70.4 82.8
2015-01 73.1 84.0
2014-12 76.9 83.3
2014-11 80.2 85.8
2014-10 81.4 85.7
2014-09 83.6 86.5
2014-08 87.1 87.2
2014-07 87.4 86.1
2014-06 84.4 82.8
2014-05 85.7 83.3
2014-04 88.8 85.8
2014-03 87.3 84.3
2014-02 90.0 88.0
2014-01 92.2 90.4
2013-12 93.8 91.4
2013-11 93.3 92.3
2013-10 92.4 90.4
2013-09 92.0 92.0
2013-08 93.1 93.3
2013-07 89.3 91.1
2013-06 87.0 88.0
2013-05 90.6 93.1
2013-04 95.3 97.5
2013-03 98.6 101.3
2013-02 104.5 104.2
2013-01 102.9 103.1

Industrial raw materials

  • Source: INSEE

Food commodity prices in euros showed contrasting trends

In August 2023, food commodity prices in euros fell slightly (‑0.5% after +0.1% in July), driven down by the sharp downturn in those for seafood (‑8.5% after +0.6%). Conversely, prices for cereals picked up (+8.3% after ‑1.3%), as did those for meat (+4.1% after ‑1.7%), sugar (+2.1% after ‑4.6%) and, to a lesser extent, those for tropical foodstuffs (+0.2% after ‑4.1%). Lastly, oilseed prices slackened (+0.8% after +7.7%).

Food raw materials

index 2010=100
Food raw materials (index 2010=100)
Prices in foreign currencies Prices in euros
2023-08 158.3 187.5
2023-07 161.3 188.5
2023-06 157.9 188.3
2023-05 157.5 187.1
2023-04 159.3 187.8
2023-03 153.8 185.7
2023-02 154.1 185.8
2023-01 150.6 180.7
2022-12 147.6 180.2
2022-11 146.9 186.5
2022-10 150.6 198.2
2022-09 152.2 198.6
2022-08 160.3 204.5
2022-07 162.9 206.8
2022-06 168.7 206.2
2022-05 167.8 205.1
2022-04 169.9 202.8
2022-03 164.6 193.0
2022-02 154.9 176.4
2022-01 151.3 172.9
2021-12 146.1 167.1
2021-11 142.8 161.7
2021-10 141.4 157.6
2021-09 138.9 152.5
2021-08 139.8 153.5
2021-07 133.5 146.0
2021-06 133.3 143.0
2021-05 134.9 143.6
2021-04 129.7 140.2
2021-03 122.1 132.6
2021-02 118.5 126.6
2021-01 114.9 122.0
2020-12 110.3 117.1
2020-11 108.9 118.8
2020-10 106.2 116.5
2020-09 104.6 114.5
2020-08 101.5 110.8
2020-07 98.7 111.2
2020-06 99.2 113.9
2020-05 103.5 122.8
2020-04 98.8 117.6
2020-03 102.0 119.1
2020-02 104.6 123.9
2020-01 105.6 122.8
2019-12 105.7 123.0
2019-11 103.2 120.6
2019-10 99.8 116.7
2019-09 98.5 115.6
2019-08 100.6 116.8
2019-07 102.5 118.0
2019-06 103.9 118.9
2019-05 102.0 117.7
2019-04 104.4 119.9
2019-03 101.6 116.0
2019-02 103.1 117.3
2019-01 104.0 117.6
2018-12 102.0 115.7
2018-11 103.4 117.5
2018-10 104.5 117.5
2018-09 99.6 110.3
2018-08 102.2 114.2
2018-07 107.4 118.7
2018-06 111.9 123.8
2018-05 112.2 122.5
2018-04 110.3 116.0
2018-03 110.9 116.1
2018-02 107.7 112.7
2018-01 105.0 111.3
2017-12 104.1 113.6
2017-11 106.6 117.5
2017-10 106.4 116.9
2017-09 107.6 116.7
2017-08 112.2 122.8
2017-07 116.7 130.9
2017-06 115.3 132.7
2017-05 113.4 132.6
2017-04 111.0 133.7
2017-03 114.1 138.0
2017-02 114.6 139.0
2017-01 114.4 139.2
2016-12 110.2 135.0
2016-11 112.4 134.3
2016-10 110.1 129.0
2016-09 109.6 126.3
2016-08 109.6 126.2
2016-07 112.3 131.1
2016-06 111.9 128.6
2016-05 105.8 120.7
2016-04 103.9 118.4
2016-03 100.6 117.1
2016-02 99.1 115.4
2016-01 98.5 117.1
2015-12 98.7 117.1
2015-11 99.3 119.2
2015-10 100.8 115.9
2015-09 100.3 115.5
2015-08 103.1 119.5
2015-07 104.4 122.7
2015-06 104.2 120.2
2015-05 103.9 120.3
2015-04 104.6 125.5
2015-03 105.5 125.6
2015-02 108.0 123.7
2015-01 111.3 124.8
2014-12 114.2 121.8
2014-11 115.7 122.3
2014-10 115.6 120.6
2014-09 116.8 120.0
2014-08 120.6 120.4
2014-07 122.8 120.9
2014-06 122.5 120.3
2014-05 125.7 122.3
2014-04 129.3 125.3
2014-03 127.4 123.4
2014-02 120.6 118.0
2014-01 116.7 114.6
2013-12 116.5 114.1
2013-11 110.6 109.4
2013-10 110.5 108.3
2013-09 110.1 109.7
2013-08 114.8 114.8
2013-07 118.5 120.1
2013-06 117.2 118.0
2013-05 117.9 120.2
2013-04 114.6 116.5
2013-03 113.1 115.4
2013-02 112.4 111.9
2013-01 111.6 111.7

Food raw materials

  • Source: INSEE

Imported raw materials (excluding energy) in euros

index 2010=100
Imported raw materials (excluding energy) in euros (index 2010=100)
Index of last month changes (in %)
M/M-1 M/M-3 M/M-12
Food total 187.5 -0.5 0.2 -8.3
Tropical foodstuffs 152.1 0.2 -2.3 -5.7
Oilseeds, vegetable oils 173.4 0.8 10.0 -16.6
Cereals 164.4 8.3 8.0 10.4
Sugar 132.4 2.1 -6.4 24.4
Meat 226.2 4.1 2.9 -2.4
Seafood products 170.7 -8.5 -8.0 -13.7
Industrial raw materials 120.4 -0.4 -1.0 -13.4
 Agricultural raw materials 111.8 -0.1 1.6 -28.3
   Natural textile fibres 120.7 4.8 4.1 -23.7
   Natural rubber 46.9 1.2 -4.4 -18.5
   Hides 43.6 1.4 -0.3 -29.3
   Wood pulp 126.3 0.8 0.3 -35.0
   Tropical wood 99.0 0.0 1.4 -1.6
   Sawn softwood 211.1 -4.7 7.8 -26.3
 Minerals 119.8 -0.5 -1.3 -10.7
   Ferrous metals 98.3 -1.5 3.3 -6.4
   Non-ferrous metals 125.5 0.3 -3.8 -15.7
   Precious metals 164.3 -0.4 -4.6 -0.7
All commodities 150.2 -0.5 -0.3 -11.1
  • Source: INSEE

For further information

The relevant time series and a user guide are available at the bottom of this page.

Crude oil: from 1986, the price of Brent gradually established as a representative reference price of European supplies.

Petroleum: prices of oil products are monthly averages.

Indices of non-energy raw materials imported by France: the indices calculated by INSEE are monthly averages of raw material prices, weighted by their share in the French imports of raw materials (2010 = 100).

Next issue: 20 October 2023 at 12.00 pm.

Pour en savoir plus

The relevant time series and a user guide are available at the bottom of this page.

Crude oil: from 1986, the price of Brent gradually established as a representative reference price of European supplies.

Petroleum: prices of oil products are monthly averages.

Indices of non-energy raw materials imported by France: the indices calculated by INSEE are monthly averages of raw material prices, weighted by their share in the French imports of raw materials (2010 = 100).

Next issue: 20 October 2023 at 12.00 pm.

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