Spain stood among the later European countries to face the price shock, with public subsidies intended to curb cost of living acting as temporary brakes. The government rolled out a package of measures aimed at softening inflation, but its effects proved short-lived. A fleet of ships and the onshore fishing community briefly paused activity as subsidies made diesel and petrol cheaper by a modest margin, yet the relief faded as markets adjusted. The subsidy, initially bright as fireworks, helped ease inflationary pressure in April, but the benefit to households did not endure. Since the subsidy began, pump prices rose beyond prewar levels, not only by a few cents but by a broader margin. When Pedro Sánchez, then president, announced the discount, diesel prices in Galicia had averaged 1.89 euros per liter on March 29; today they sit above 1.95 euros. Gasoline followed a similar pattern, climbing by more than six cents at community stations during this period.
Two clear consequences emerged. First, aid measures were pared back as their usefulness in countering war-driven strain waned. Second, compared with prices before the subsidy, Galician drivers now pay roughly ten cents more per liter than the public treasury spends on support. The rise in prices also coincided with a cap on Brent crude, the European benchmark for oil. On March 29, Brent traded at 111.49 dollars after the subsidy was announced; by the end of this edition, the barrel cost less than 108 dollars. Consequently, filling a 55-liter petrol tank costs about 3.5 euros more, while a diesel tank costs around 2.2 euros more, given cheaper crude in international markets.
Across Spain, including the Balearic and Canary Islands, fuel prices hovered around 1.8 euros per liter, while Galicia again faced prices near 2 euros per liter. This Monday, as many as fifty gas stations nationwide reported diesel prices above two euros per liter, though none in Galicia. A notable portion of stations—nearly 130 nationwide—posted prices just under or at two euros in the latest official tallies from the Ecological Transition Ministry.
Ships
The discount effect also touched the fishing fleet, erasing a profitability threshold once diesel rose beyond sixty cents per liter. In Vigo, ship fuel averaged about 1.14 euros per liter on Monday, slightly higher than in nearby Arousa by about 1.2 euros. Industry stakeholders have begun renewed discussions, as confirmed to a regional publication by representatives of freezing and port operations. In Montevideo, a supply port for vessels in the Southern Cone, diesel is priced in euros. Across the major reference ports of the Galician fleet, including Mindelo, Walvis Bay, and Durban, prices do not dip below that critical level. The situation remains challenging for shipowners who must refuel in alternative countries where the discount does not apply.
Saudi Aramco is moving toward becoming the world’s most valuable company. The state-backed oil giant saw its shares reach their highest price since its 2019 market debut. As the leading listed company, Aramco narrowed the gap with Apple after the tech giant’s shares opened lower. Aramco traded at 45.95 riyals, up 0.22% on the Tadawul exchange, approaching the intra-day peak last seen at the IPO high of 46.25 riyals. That level helped push its market capitalization to about 9.19 trillion riyals. Rising oil prices have supported Aramco’s share performance, increasing its year-to-date gains well beyond the IPO price, while Apple faced a drop in its session, trading around 153.19 dollars with a market value near 2.48 trillion dollars.