Petrol and diesel prices continue to fall in Spain

by Lorraine Williamson
petrol and diesel prices

Petrol and diesel prices have fallen again in Spain over the past week, which coincided with the August 15 puente. Average prices of €1.597 and €1.606 per litre – with the government’s 20 cent discount applied. This is the lowest level since April last year.  

According to data released on Thursday by the Oil Bulletin of the European Union (EU), which shows the average price recorded at more than 11,400 Spanish petrol stations between 9 and 15 August, the price of both fuels is still below the €2 per litre mark even without the government discount.  

With these values, the cost of petrol has fallen by 3.8% in the last seven days, after the eighth consecutive drop, while diesel is 2.9% cheaper than a week ago, after the seventh consecutive drop.  

Over the past seven days, petrol and diesel prices have been at similar levels to the week of 11 April, before Easter, when prices were €1.59 and €1.613 per litre respectively.  

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Both fuels are also below the prices of March, when the record highs that continued to pile up forced the government to introduce the 20 cents per litre discount for all consumers, which will remain in place throughout the year.  

Still more expensive than a year ago  

Due to the escalation of both fuels since the beginning of 2022, a situation that worsened after the Russian invasion of Ukraine, the price of gasoline has risen by almost 8% since the first week of January, while the price of diesel has increased by 19%.  

At current prices, filling up an average 55-litre tank with both petrol and diesel costs about €88, which means that the customer pays about €7 more for petrol than at the beginning of 2022, and €14 for diesel. 

Despite the historically high values, the price of both fuels in Spain – after applying the discount – remains below the European average, which according to EU statistics last week was €1.774 per litre for petrol and €1.804 for diesel. 

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