The average fuel price in Spain continued its downward trajectory this week, with gasoline and diesel showing notable declines across the market. Diesel moved into the lead at €1.59 per liter, reflecting a 3.16% drop from the previous week. Gasoline followed closely, registering around €2.86 per liter, about 2.86% lower than seven days earlier.
In line with this trend, both gasoline stations and diesel outlets have posted a fifth consecutive week of price declines for gasoline and a seventh straight decrease for diesel, drawing from data compiled by the European Union Petroleum Bulletin and reported by Europa Press.
Compared with last week, the price gap between the two fuels remains relatively small, with diesel currently about seven cents cheaper than gasoline. This fuel-wide differential has persisted for nineteen straight weeks, underscoring a persistent pattern in fuel pricing between the two fuels across the country.
At these levels, both fuels are well below their summer peaks. Back in July, gasoline briefly touched approximately €2.141 per liter and diesel reached around €2.10 per liter, marking the highs of that period.
Today, the average price of gasoline is at its lowest point since mid-February, while diesel prices reached a low not seen since mid-April, highlighting a sustained period of relief for consumers and a temporary easing of wholesale pressures.
Both fuels remain under the mark of €1,818 per liter for gasoline and €1,837 per liter for diesel before the government’s 20-cent-per-liter subsidy began at the end of March. The current averages include taxes but do not reflect the minimum 20-cent discount per liter that applies with higher company-specific promotions and loyalty programs in effect since April 1.
Under this subsidy, the effect is a reduced consumer price for gasoline to about €1.39 per liter and for diesel to about €1.46 per liter. In both cases, these figures are clearly lower than the prices observed at the end of March, before the subsidy started.
Looking ahead, the government faces a decision on whether to preserve the subsidy, modify its scope, or discontinue it due to its cost and varying impact. That decision is anticipated in the coming week, with policy implications for future fuel costs and consumer relief.
The Yearly Change
Even without the subsidy, gasoline prices are about 7.72% higher than they were a year ago, while diesel prices show a steeper rise of roughly 23.58%. These year-over-year changes come amid an environment of elevated crude oil prices and ongoing geopolitical tensions, notably the war in Ukraine. On Thursday, Brent crude traded near $83 per barrel in Europe, with U.S. marker Texas Intermediate around $79.2, signaling a firming trend in global energy markets as local prices respond to wholesale movements.
Fuel prices respond to a blend of factors, including the base price of crude oil, tax structures, the cost of raw materials, logistics, and the margins taken by suppliers. Price movements in crude oil often translate to retail fuel prices with a lag, meaning local prices can diverge temporarily from wholesale trends.
EU Level Comparisons
When looking at the broader European picture, prices in Spain for unleaded gasoline and diesel are still below EU-wide averages. Spain’s average unleaded price remains below the EU average of €1.639 per liter and beneath the eurozone average of €1.678 per liter. For diesel, Spain’s prices sit under the EU-wide average of €1.727 per liter and the eurozone average of €1.737 per liter, indicating a comparatively favorable position relative to many other member states.
These figures help explain the recent relief observed at the pump, even as market dynamics remain sensitive to global crude movements and policy shifts that can shift the balance between consumer prices and wholesale costs.
Note: figures cited reflect the latest EU Petroleum Bulletin data via Europa Press and are subject to weekly revisions as markets respond to ongoing developments in energy policy, supply chains, and crude oil pricing.