The energy crisis that broke out in February of last year, Beginning of the Russian invasion of Ukraine He’s already breathing. Data from the latest European Union Oil Bulletin shows that the average price gasoline And diesel In Spain it is already below the levels at that time. Average prices are 1.58 and 1.41 Euros, respectively. In the week of February 21, 2022, when the war started in Ukraine, the liter of gasoline became 1.59 euros and the liter of diesel became 1.48. While socks are never tailored to every consumer’s daily experience, they are a good example of change.
HE average diesel price This week is down 1.53% from seven days ago, deepening a new minimum this year and the lowest since late January 2022. The average price of one liter of diesel is consolidating at 1,411 euros, after nine weeks of decline, lower than the cost in the last week of 2022, also when the government subsidy of 20 cents per liter is still applied. The average liter price of gasoline chained its fourth straight decline this week, falling 1.25% to 1,579 euros, its lowest level since mid-February last year. The heavy weight of fuels in the development of inflation gives hope that the CPI will soften.
HE The diesel price consolidated below the gasoline price for the fourteenth consecutive week. Thus, from August 2022 until mid-February of this year when it breaks this dynamic, it remains in its usual state before the Russian invasion of Ukraine, which caused the price of diesel to be more expensive than gasoline.
At these price levels, both fuels are far from the peaks they reached last summer, when gasoline reached 2,141 euros and diesel 2.1 euros in July. Similarly, gasoline and diesel continue for another week, below the amount they marked (€1,818 in the first case, €1,837 in the second case) before the government-approved 20 cents per liter aid finally came into effect. This has been maintained since the beginning of 2023 only for the group of professionals, which includes shippers, farmers, transport companies and fishermen. In this context, the benchmark Brent in Europe this Thursday is trading at around $76 a barrel, with a slight decline, while the American Texas is trading at around $72.4.
ups and downs
Historical evolution of oil price shows high ups and downs. For example, when it comes to oil, prices fell by almost 70% between January and April 2020. Since that time It rose almost 250% to an all-time high of $120 in mid-2022.. The Brent price target for producing countries is around $80 a barrel after falling below $70 in recent weeks.
The price of 95 unleaded gasoline in Spain is below the European Union average of 1,703 euros per liter, and below the eurozone average with an average price of 1,754 euros. In the case of diesel, the price in Spain is also below the EU average of 1,535 euros and the eurozone of 1,563 euros.
Community partners that are more expensive to fill are Denmark, which averages 1.91 euros per litre; and Sweden in diesel, 1.84 euros. The most suitable gas stations are those in Bulgaria (1.29 Euros) for petrol car drivers and Malta, where an average liter of 1.21 Euros is paid for diesel drivers.