Else Beekman
Repsol will pay customers 30 cents per litre for returning used cooking oil. With this new campaign, the gas station chain wants to offer customers an environmentally friendly way to get rid of old oil and save some money at the same time.
The promotion is available in more than 450 Repsol petrol stations in the regions of Madrid, Galicia and Castilla-La Mancha. Customers are encouraged to bring their used cooking oil in clear plastic bottles of up to 5 litres, tightly closed with a cap, to any of these stations.
How does it work?
Customers who bring their used oil to Repsol will receive 30 cents per litre credited to their Waylet account. This app allows users to enjoy various benefits and services of Repsol. The balance can be used for a discount on refueling or on other Repsol services and products. To take advantage of this promotion, customers must download the Waylet app and register.
Olive oil prices have risen sharply
The price of olive oil in Spain has increased significantly. Then an action such as that of Repsol is welcome to provide some support to the troubled wallet. According to recent data, extra virgin olive oil now costs €8.455 per kilogram, while the price of regular olive oil is now €7.736 per kilogram. Experts attribute the rise in olive oil prices mainly to poor harvest expectations and the drought that has struck Spain in recent years. In addition, inflation and the higher costs of fertilisers and other agricultural products, caused by geopolitical tensions, have also contributed to the price increase.
Consequences for consumers
The high prices have led to a significant increase in olive oil expenditure by Spanish households. In 2022, households spent an average of €97.7 on olive oil, an increase of €20.1 compared to 2021. This is the highest expenditure since 2007. Experts predict that prices could rise further in 2024, possibly up to €12 per litre. This increase is the result of the persistent drought and poor harvest expectations for the coming years, especially in important production areas such as Andalucia.
Also read: After olive oil, will coffee also become unaffordable in Spain?