Spain’s petrol price reaches annual maximum after three months of increase

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petrol price

Since the beginning of the year, the price of gasoline has increased by 10%. Gasoline prices also rose for three consecutive months and have now reached a new annual record. The price for a litre of unleaded petrol 95 is now on average €1.686.

This is also a small increase compared to last week. Diesel, which has fallen to €1.558 per litre, has seen an increase of 4% since the beginning of 2024.

Impact on the wallet

Filling an average 55 litre petrol tank now costs €92.7 according to the most recent data from the EU Oil Bulletin. That is almost €2 more than at the same time last year. Diesel users now pay €85.6 for a full tank, which is also €2 more than last year.

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Petrol price in Spain compared to the EU

Despite the increases, the price of petrol in Spain remains below the average of the European Union, which is €1.813 per litre, and of the euro zone, where the average price is €1.869 per litre. Diesel is also cheaper in Spain compared to the EU average of €1.680 and €1.708 in the Eurozone.

The role of crude oil prices

The price of crude oil also remains an important factor. On Thursday, the price of a barrel of Brent crude, the benchmark for Europe, rose 0.28% to $88.27, while Texas crude rose to $83.03, up 0.27%.

Last December, the price of gasoline in Spain reached the lowest level of 2022 at €1.501 per litre. The record high was reached in the summer of 2022. Then petrol cost €2.141 .

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