After a meeting with distribution companies, French Economy Minister Roland Lescure expressed caution regarding a rapid decrease in fuel prices, highlighting the volatility of the oil market and uncertainty over a real opening of the Strait of Hormuz.
"The markets are extremely volatile," Lescure said at a press conference, explaining that the price of oil in Rotterdam was rising after a sharp drop on Wednesday.
He added that it is still unclear how the ceasefire would be implemented concretely.
"Although hopes for the opening of the Strait of Hormuz have not yet been realized, current prices remain lower than two days ago," the minister stressed.
"We hope that the reductions will be gradually reflected as supplies increase," he added, warning that it could take several hours or days for gas stations to be restocked.
