MADRID – The average fuel price in Spain has risen again for the second week in a row. Diesel now costs almost €2 per litre and petrol rose by 4.5 cents to €1.756 per litre.
The price of diesel rose by 9.3 cents compared to last week to the maximum price since mid-July. Last week, the downward spiral of the past month was already cut, after five consecutive declines with a price increase of 5%. The data was published by the oil bulletin of the European Union (EU).
Despite this increase, both fuels remain a long way from the record levels they reached this summer. In July, petrol cost €2.141 per litre and diesel cost €2.1. In addition, the average price of a litre of diesel in Spain remains above that of petrol for the tenth week in a row, with a difference of just over 19 cents.
The bonus of 20 cents per litre
With the bonus of 20 cents per litre applied by the government to car fuels since April 1, the price of petrol would be €1.556 per litre and that of diesel would be €1.749 per litre. For example, petrol remains below the level before the entry into force of the aid (€1.818 per litre). In the case of diesel, the price exceeds that level of €1.837.
This week the government opened the door to limit the fuel bonus that will apply to the entire population until the end of this year for certain sectors and affected groups if this bonus is extended. Minister Calviño of Economic Affairs and Digital Transformation announced this.
5% and 29% more expensive than a year ago
Compared to the same week a year ago, including the bonus, the price of a litre of petrol is almost 5% more expensive than a year ago. In the case of diesel, the price is almost 29% higher.
The price of unleaded petrol 95 in Spain remains below the average of the European Union (€1.831/l), and of the Eurozone (€1.884/l). In the case of diesel, the price in Spain is lower than the EU average of €1.970 and lower than that of the Eurozone at €2.008.
High oil prices due to war in Ukraine
These figures were recorded in the context of high crude oil prices due to the war in Ukraine. For example, the price for a barrel of Brent, a reference in Europe, was above $93 on Thursday, while the US Texas was around $86.
The price of fuels depends on several factors, such as the specific price (independent of that of oil), the evolution of crude oil, taxes, the cost of raw materials and logistics and gross margins. Moreover, the evolution of the price of crude oil is not translated directly, but with a delay, to the fuel prices.
On this map of RTVE.es, you can search for the gas stations with the cheapest petrol and diesel in Spain.