Spain’s average petrol price continued its upward trajectory this week, setting a new record at 1.968 euros per liter after a 1.44% weekly rise. The change is based on data from the European Union Petroleum Bulletin collected by the European Petroleum Board (EP).
The figure shown represents the average price including taxes but excludes discounts. Since April 1, many oil companies have offered discounts of at least 20 cents per liter, which vary by provider and not all savings are reflected in the headline average.
Even with the subsidy in place, the price of a liter of gasoline would be only about five cents cheaper than the last week of March, just before the discount began, marking the sixth straight weekly increase since Easter. The price rise since then has consumed roughly three quarters of the subsidy’s value, highlighting how much of the benefit is eroded by the general price trend.
For diesel, the average price per liter fell this week by 0.8% to 1.852 euros, marking the third consecutive week of decline. Despite diesel maintaining a high price level, its trajectory has been more favorable than gasoline’s since early March. When the 20-cent-per-liter discount is applied, diesel prices are about 18.5 cents below the end of March levels.
Compared with a year ago, the average price of gasoline per liter has risen by 48.4%, while diesel has increased by 56.5%—even when current discounts are not considered.
oil rise
These movements come amid a broader pattern of rising crude oil costs. The ongoing situation in Ukraine has influenced markets, with Brent crude, a key European benchmark, trading above 113 dollars a barrel on Thursday, while U.S. crude (WTI) hovered just over 112.5 dollars. This backdrop helps explain the high fuel prices observed across the region.
Fuel prices are the result of multiple factors beyond crude itself. Local taxes, the cost of refining, margins, taxes on additives and biodiesel, and logistics all play a role. While crude movements do not translate instantly into pump prices, there is a delay as refiners and distributors adjust their pricing in response to changing crude costs and market conditions.
lower than EU average
With the current levels, Spain’s unleaded gasoline is priced at 95 in line with, or slightly below, the European Union average of 2.01 euros per liter and the euro area average of 2.073 euros. For diesel, Spain’s price has recently dipped below the EU average of 1.856 euros, and remains below the eurozone average of 1.894 euros. The relatively lower final price in Spain is attributed to a combination of a broader tax structure and charges, including biodiesel taxes, which collectively keep the overall tax burden comparative to, or modestly lower than, neighboring markets.
Analysts note that the Spain-wide price levels reflect a balance between value-added tax, excise duties, and regional charges. This mix means that even in a market with high base prices, Spain can show price indicators that lag behind or diverge from some surrounding economies, depending on how subsidies, taxes, and discounts are applied across providers.
As markets continue to monitor movements in crude costs and subsidy effects, observers expect future weeks to reveal whether the discounts will sustain their impact on headline prices or be gradually absorbed by the market as refiners adjust margins and wholesale costs. The continuing dynamic underscores how sensitive pump prices remain to global energy trends and local fiscal policies. [Source: European Union Petroleum Bulletin, data compiled by EP]