Else Beekman
Fuel prices in Spain have dropped for the second consecutive week, providing slight relief for drivers. According to the latest European Union (EU) Oil Bulletin, the average price of petrol has fallen to €1.571 per litre, while diesel now costs €1.499 per litre. This marks a 0.13% decline over the past week and reflects a stabilisation after the price peaks recorded in January 2025.
Despite this recent dip, fuel prices have increased since the beginning of 2025. Petrol has risen by an average of 1.3%, while diesel has climbed 1.9%. The highest prices recorded so far this year were €1.579 per litre for petrol and €1.508 per litre for diesel, registered in the penultimate week of January.
Compared to early 2024, however, the picture looks different. Petrol prices are down by 0.06%, and diesel has seen a 1.83% decrease. This means that filling up a 55-litre petrol tank now costs approximately €86.41, while a diesel tank refill costs €82.45. In practical terms, this is €0.05 cheaper for petrol and €1.50 cheaper for diesel than the same period last year.
How do Spanish fuel prices compare to the rest of Europe?
Spain’s fuel prices remain below the EU and Eurozone averages. Across the 27 EU member states, the average petrol price stands at €1.711 per litre, while diesel is priced at €1.629 per litre. Within the Eurozone, the figures are even higher, with petrol at €1.76 per litre and diesel at €1.655 per litre.
A long way from the 2022 price peaks
Fuel prices have been fluctuating. However, they are still far below the record highs of 2022. In June 2022, during the peak of the global energy crisis, petrol reached €1.941 per litre and diesel hit €1.90 per litre—even after applying the €0.20 per litre government discount that was in place at the time. Currently, petrol is 19% cheaper, and diesel is 21% lower than those peak prices.
What’s driving the market?
Several factors continue to influence fuel prices. Global oil markets remain volatile, especially in light of new tariffs imposed by the US on its largest oil supplier. Economic uncertainties, geopolitical tensions, and supply chain issues could further impact fuel costs in the coming months.
Also read: Spain and Portugal offer lower fuel prices than European average