Petrol prices hit record in France

Mar07, 2011 06:47 pm

Petrol prices rose to a record high in France last week, with a litre of 95-octane petrol costing on average 1.5067 euros, according to information published Monday by a government agency.

he price, equivalent to $7.97 per US gallon, beat the previous record set in June 2008 of 1.4971 euros.

A litre of 98-octane petrol rose to an average of 1.5417, also beating the record of June 2008 of 1.5326 euros ($8.15 per US gallon).

The price of diesel, which accounts for 78 percent of sales in France, rose to an average of 1.3513 euros per litre ($7.15 per US gallon), some 10 cents below its record price.

Petrol prices at the pump have risen as the price of crude oil has jumped on markets due to tension and unrest in north Africa and the Middle East.

On Monday, New York's main contract, light sweet crude for delivery in April, hit $106.95 a barrel -- the highest level since September 2008.

In London, Brent North Sea crude for April rose 88 cents to $116.85.

The prices are still far below the record $147 per barrel set in 2008.