Lower Gas Prices in May

Finance
lower Gas Prices for consumers
lower Gas Prices for consumers
The price of gas is being lowered for consumers in May

Regulated gas tariffs applied by GDF Suez to more than 7 million French households, will decline by 1.16% on average (excluding taxes) on 1 May.

The decline will be 1.2% for households that heat with gas, 0.4% for those who use gas only for cooking and 0.8% for those who use it for both uses, the CRE has said in a detailed statement.

This decrease reflected the decline in the cost of supply for GDF Suez since April 1, linked to “the slight decrease in the monthly index of gas prices on the wholesale market of the Netherlands” and “the general decline in oil indexes used in the formula to calculate the change rate regulated gas sales “ , says the industry regulator.

Gas prices, revised monthly, had risen slightly in April (0.58% on average), after a sharp decline in March (3.46%) and February (1.27%).  Since January 1, 2014 they decreased on average by 7.9%, says the CRE.

These rates are a retail price that does not include various taxes but includes supply costs of GDF Suez.

Their formula was changed last summer to strengthen their indexing on market prices rather than changes in the price of crude oil.

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