Prices for petroleum products and natural gas are set in accordance with regulations, the calculation methods for which are detailed in the decree of February 5, 2014.
Based on this calculation method, the Prefect sets the maximum prices for the following petroleum products on a monthly basis:
- Unleaded Super Gasoline
- Diesel
- Liquefied petroleum gas
Maximum prices (including all taxes) are calculated and determined by adding the amount of the various applicable taxes—including local indirect taxes, whose rates are set by the territorial authority of Martinique and whose revenue helps fund local governments—to the pre-tax prices. Unlike in mainland France, the French government does not collect either VAT or the domestic consumption tax on energy products (TICPE) on fuels consumed in Martinique.
To mitigate the effects of rising fuel costs and preserve users’ purchasing power, the government has introduced a special subsidy of €100 for half of the lowest-income users who use their vehicles for work or to commute to work.
Eligible individuals can apply starting January 16 through the end of March 2023.
The eligibility requirements for the fuel allowance can be found on the website: https://www.impots.gouv.fr/indemnite-carburant-de-100-eu-comment-ca-marche.
Factors Influencing the Observed Monthly Trend
- Crude oil prices rose by 1.4 % in February 2023 to 82.81 $ per barrel.
- Gasoline prices rose by an average of 4.1%, while diesel prices fell significantly by 11 % due to a trend reinforced by an automotive market shifting toward gasoline-hybrid and electric vehicles at the expense of diesel.
- Butane prices rose again by 11.6 % in February 2023.
- The euro/dollar exchange rate is stable at €1.0753, or 0.3 % to 1 $ on average.
