Fuel prices start 2024 with their first price hike in three months

HE average price fuels After experiencing consecutive declines since the end of September and bidding farewell to last year at the lowest levels of the year, with a decrease of up to 15 percent, it started 2024 by recording its first increases in three months.

In particular, according to data compiled from the European Union Petroleum Bulletin, the average liter price of gasoline ended this first week of the year with thirteen consecutive decreases, after reaching 1,534 euros with an increase of 0.19%. European Press.

Diesel, on the other hand, ended its decline for twelve consecutive weeks after reaching an average of 1,493 euros per liter, an increase of 0.07 percent compared to the previous week.

In this way, both fuels are breaking the downward spiral that has led to a price drop of almost 15% for gasoline and more than 13% for diesel.

Gasoline below before the war in Ukraine

Despite this slight recovery, the liter price of gasoline remains below the levels before Russia invaded Ukraine on February 24, 2022 (1,592 euros per liter). still above the price of 1,479 euros per liter.

Moreover, Both fuels remain far from the maximum values ​​recorded in summer 2022. In July, the price of gasoline reached 2,141 euros and the price of diesel reached 2.1 euros.

Gas tank is 3 euros more expensive than in 2022

At current prices, The average price of filling a 55 liter tank of gasoline is 84.37 euros. That’s almost three euros more than on the same dates last year, when the 20 cents per liter discount in force for most of 2022 is no longer available, reaching around €81.4.

For Vehicles Filling an average tank (55 liters) of diesel means an expenditure of 82.11 EurosThis is approximately 74 euros more than in the same period in 2023, when the price was 8 euros.

Likewise, diesel remained below the price of gasoline for 45 consecutive weeks. Thus, it maintains the usual situation before Russia’s invasion of Ukraine, which consistently caused the price of diesel to be more expensive than gasoline from August 2022 until mid-February 2023, when the dynamic broke down.

The price of fuel depends on many factors, including its specific price (independent of oil), the development of crude oil, taxes, raw material and logistics costs, and gross profit margins. In addition, the change in crude oil prices is reflected in fuel prices not directly but with a delay.

Prices in Spain are cheaper than the European average

With these levels The price of 95 unleaded gasoline remains below the Spanish average European Union, It has a price of 1,668 euros per liter and an average price of 1,721 euros in the eurozone.

As for diesel, the price in Spain is lower than the EU average of 1,633 euros and the euro zone average of 1,666 euros.

Source: Informacion

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