Ankara: The situation surrounding rising fuel prices is 'extremely uncertain' due to escalating geopolitical tensions, French government spokesperson Maud Bregeon said Tuesday.

According to Anadolu Agency, Bregeon, speaking to public broadcaster France 2, linked the price increase to developments in the Middle East. 'These are obviously the consequences of what is happening in the Middle East. The French know this and I understand that it is very difficult for many of our fellow citizens,' she said, citing price 'fluctuations that are hard to anticipate.'

Bregeon emphasized that the current trend is upward and acknowledged the uncertainty surrounding future developments, stating, 'The trend as we speak is upward. I am not able to tell you what will happen in the coming days or weeks.' To mitigate the effects of rising prices, she noted that the government had introduced assistance for 'the most exposed sectors' and 'the most vulnerable French citizens.' She assured that 'this aid is still in place,' and that eligible individuals could access the support until the end of August.

When asked about the possibility of extending these measures, Bregeon mentioned that the government 'will take stock by the end of August.' The context of this situation involves oil prices rebounding since the beginning of July, as renewed hostilities reversed part of the losses triggered by an interim US-Iran agreement. This agreement had initially raised expectations of safer transit through the Strait of Hormuz and increased regional energy supplies.

The latest escalation has also dampened hopes for renewed negotiations, with Tehran demanding that Washington first fulfill previous commitments regarding shipping through the Strait of Hormuz and Iranian oil exports.