Fuel in Spain cheaper again; petrol price at lowest level in year

by Lorraine Williamson
fuel prices

The average price of a litre of fuel fell by 1.35% this week compared to last week. A litre of petrol now costs €1.536, according to data from the European Union’s Oil Bulletin, published by Spanish news site Europa Press.

The average petrol price fell for the 12th week in a row. Since the end of September, the cumulative decline is almost 13%. The price was lower at the end of last year, but then the government premium of at least 20 cents per litre for fuels was still in force.

Moreover, the price of diesel has been falling for 11 weeks. The price is 1.64% lower from the previous week, costing an average of €1.501 per litre. The diesel price has fallen 11% since the beginning of October to a level not seen since the end of July.

Prices for both fuels peaked in summer 2022, when petrol cost €2.141 and diesel €2.1.

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This is what you pay for an average tank

Despite these decreases, filling up an average 55-litre tank of petrol at current prices costs €84.5, around €8 more than at the same time in 2022. Then the price was around €76.5, including the discount of 20 cents per litre in force at the time. An average tank of diesel (55 litres) costs €82.5, some €3.2 more than at the same time in 2022, when it was €79.3, including the discount.

Prices ahead of Russian invasion

With this downward spiral, the price of a litre of petrol remains below the level before the outbreak of the Russian invasion of Ukraine – €1.592 per litre – which began on 24 February 2022. For diesel, it is still above the then price – €1.479 per litre.

Last year, the minimum discount of 20 cents per litre of fuel was in force for all citizens. The measure was taken by the Spanish government as a result of the escalation of fuel prices due to the energy crisis caused by the war conflict.

Fuel prices in Spain below European average

The price of 95 unleaded petrol in Spain remains below the EU average of €1.667 per litre and below the eurozone average of €1.714. For diesel, the price in Spain is also below the EU average of €1.639 and the eurozone average of €1.661.

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