In a discussion shaped by questions about how the European Union’s sanctions stance and import policies could influence diesel prices, the latest week showed movement: prices declined by almost 3 percent, with diesel staying cheaper than petrol. This marks a shift not observed for six months, adding a fresh layer to ongoing energy price dynamics.
Oil Bulletin data, which consolidates the average price from more than 11,400 Spanish gas stations for the period February 7-13, 2023, paints a clear picture: the liter of gasoline fell to 1.633 euros while diesel remained steady at 1.628 euros. With these figures, gasoline briefly exceeded diesel on a per-liter basis, reversing the prior pattern and signaling a notable moment in the price cycle.
To recall, the week of August 8, 2022, marked a six-month window in which gasoline hovered around 1.66 euros per liter and diesel at 1.654 euros. At that time, both fuels carried a 20-cent-per-liter government bonus, which helped cushion price movements for consumers. The current movement highlights how policy measures shape price behavior and how market expectations adjust to sanctions and global supply signals.
There has been persistent uncertainty about the impact of the EU ban on diesel imports from Russia, which has been in force since February 5. Some analysts expect that the restriction could push prices higher in the broader European market, especially if supply tightens or procurement strategies shift. Yet, in the first week after the ban, diesel actually became cheaper, with a decline around 3 percent, outpacing a 1.3 percent drop seen in another period. These divergent results illustrate the complexity of price formation where geopolitical events intersect with domestic taxation, subsidies, and retail competition.
More expensive than a year ago
Looking at the year-over-year picture, both fuels remain higher than they were in the previous year. Gasoline shows an increase of about 3.7 percent, while diesel rises around 11.4 percent. It is important to remember that last year’s prices benefited from a government subsidy of 20 cents per liter, which continues to influence current comparisons and perceptions of value for both types of fuel.
At the moment, gasoline sits at levels observed in the second week of August 2022, when it was around 1.66 euros per liter after discounts. Diesel pricing mirrors the conditions seen in the last week of November, suggesting a similar price range that has persisted amid broader volatility in energy markets. For everyday budgeting, the spread between the two fuels remains a practical consideration for households and small businesses that rely on frequent refueling.
From a consumer-fuel perspective, filling a 55-liter tank now costs about 89.8 euros with gasoline and roughly 89.5 euros with diesel, illustrating that the cost difference can be modest depending on the week and the local retail dynamics. These figures highlight how small shifts in per-liter prices accumulate into meaningful totals for drivers who travel regularly or operate fleets.
Far from maximum
Even as general price levels have risen after the end of some temporary discounts, both gasoline and diesel remain well below their all-time highs recorded in June 2022. Gasoline, when discount-inclusive, is about 15.9 percent cheaper than the peak, around 1.94 euros per liter. Diesel shows a similar pattern, about 14.3 percent below its June peak of approximately 1.9 euros per liter. These comparisons underscore how discounts and subsidies moderated peak levels, and how markets are adjusting to a post-discount environment.
Last week, prices in both fuels stood roughly 27 euro cents below the European average, which hovered around 1.72 euros per liter. The eurozone context also matters: Spain’s prices are generally lower than the continental average, with eurozone figures for gasoline and diesel around 1.78 euros and 1.75 euros per liter respectively. This regional variance matters for travelers, commuters, and logistics operators planning purchases across borders.
Beyond Spain, the comparative landscape shows nuanced differences across neighboring markets. European consumers often observe how local tax regimes, wholesale dynamics, and transport costs shape the price paid at the pump. For drivers in Spain and across Europe, these price signals influence daily decisions about when to fuel, how much to buy, and which vehicle types maximize long-term value as fuel markets respond to policy and global supply conditions.