The Middle East war erupted after US-Israeli strikes targeting Iran on February 28, triggering Tehran's retaliation in virtually blocking the Strait of Hormuz.

Energy prices have soared since, with the strait being a key waterway for oil and gas transit.

Lescure told reporters in Washington after a G7 meeting Wednesday that "the general feeling was gravity" when it came to the war.

"We need this to open, but not at any price," he added of the blockage.

His comments come as French President Emmanuel Macron is hosting talks in Paris on Friday with UK Prime Minister Keir Starmer on navigation through the Strait of Hormuz once there is a ceasefire.

"I'm going to tell you very seriously, I don't want to pay $1 to go through the Strait of Hormuz," Lescure added.

He said that leaders know "the range of outcomes is pretty wide" when it comes to the conflict.

Lescure was speaking on the sidelines of the International Monetary Fund and World Bank's spring meetings in Washington, which bring together global financial leaders to the US capital.

"We value the fact that negotiation seems to be going on, and I hope they produce a result," Lescure said.

The Group of Seven is an informal grouping of the United States, Canada, Britain, France, Germany, Italy and Japan, and helps shape policy debates in the world's wealthiest nations.

France currently holds the rotating presidency of the G7 advanced economies.