The average fuel price rose more than 2% this week in Spain, reaching new record highs. Government measures that discount 20 cents per liter when paying at service stations helped limit the rise.
The average price per liter for both diesel and gasoline increased for the third consecutive week, reinforcing gains after Easter.
Data from the European Union Oil Bulletin, compiled by Europa Press, show diesel at a fresh historical peak of 1.911 euros per liter, up 2.08% from last week’s 1.872 euros.
The average gasoline price also climbed for a third straight week, posting a 2.08% rise to 1.878 euros per liter.
It should be noted that these averages do not reflect the government bonus of at least 20 cents per liter that has been in place since 1 April.
Gas stations say they are near breaking point for not collecting the 20-cent advance
With the bonus application in place, the effective price per liter for gasoline would be around 1.678 euros and 1.711 euros for diesel, though actual discounts vary by oil company.
Diesel has once again overtaken gasoline by more than three cents in the same week, a gap not seen since 2011.
Compared with a year earlier, the average price of a liter of gasoline is up about 39.73%, while diesel shows an increase of roughly 59.38%, even before applying current discounts.
oil rise
The price moves come amid rising crude values tied to concerns about supply shortages after the European Commission proposed banning Russian oil imports this year. A European Brent benchmark traded near 105 dollars per barrel on Thursday, while Texas crude traded above 103 dollars.
Fuel prices respond to multiple factors, including the price of crude, taxes, raw material costs, logistics, and gross margins. Changes in crude often do not translate directly into gasoline prices, and there can be a lag before changes pass through.
Despite these levels, the price of 95 octane unleaded gasoline remains below the EU average of 1.903 euros per liter in Spain. In the euro area, the average is 1.978 euros. A similar pattern holds for diesel, with the EU average at 1.905 euros and Spain at 1.911 euros without the bonus, while the euro area stands at 1.953 euros.
Final consumer prices tend to be lower in Spain than in some peripheral countries due to the country maintaining comparatively lower overall financial pressure, even after accounting for VAT and biodiesel-related charges.