The prices of gasoline and diesel in Spain are consistently decreasing
Significant Drop in Fuel Prices in Spain Amid Global Events
In a surprising turn of events, fuel prices in Spain have witnessed a remarkable decline, consistently remaining below the European Union (EU) average. The drop in prices was initiated by the recent geopolitical developments following the Hamas attack on Israel, and the good news for consumers is that this trend is expected to persist.
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Diesel, in particular, has maintained its cost advantage over petrol, with prices staying a few cents lower. The latest data shows that a liter of diesel has further decreased by 1.5% as of Thursday, October 19, bringing it to 1.656 euros per liter. In contrast, petrol prices have also dipped, standing at 1.679 euros per liter, reflecting a reduction of 2.3%.
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While these price reductions are undoubtedly a relief for consumers, it’s worth noting that both fuels are still more expensive than they were before the Russian invasion of Ukraine. The contrast is striking when we compare current prices to those on February 24, 2022, where a liter of diesel cost 1.479 euros and petrol was as low as 1.594 euros.
With the present prices, filling up an average 55-liter tank with petrol will set you back approximately 92.34 euros. This is nearly 7 euros more than it would have cost at this time last year when the government’s 20-cent per liter discount was still in effect.
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On the flip side, filling the same tank with diesel will amount to around 91.08 euros at most filling stations, which is actually 5.11 euros less than the cost during the same period in 2022.
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One noteworthy point is that diesel has remained more affordable than unleaded petrol for 35 consecutive weeks, maintaining its cost advantage.
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Furthermore, Spain continues to stand well below the average fuel prices of both the EU and the eurozone for diesel and petrol. This situation bodes well for consumers and is a welcomed respite amid global uncertainties and fluctuations in energy costs.
