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Date Published: 17/02/2023

ARCHIVED - Diesel prices in Spain plummet below petrol for the first time in 6 months

ARCHIVED ARTICLE -

Despite the drop, diesel in Spain is still 11.35% more expensive than a year ago

<span style='color:#780948'>ARCHIVED</span> - Diesel prices in Spain plummet below petrol for the first time in 6 months

Drivers across Spain are experiencing a bit of a reprieve for the first time in months as the price of both petrol and diesel have been falling continuously for about two weeks now. The most pronounced change is in the cost of diesel, which has dropped by 2.92% this week.

According to the latest data published on Thursday February 16 in the European Union Oil Bulletin, a litre of petrol this week costs 1.633 euros on average while diesel is sitting at 1.628 euros per litre – the first time since the beginning of August that diesel has been cheaper than unleaded.

In the past seven days alone, the price of diesel has plummeted 2.92% on top of the 1.5% drop seen the previous week.

However, it’s good news for all drivers as petrol has recorded its second week in decline this year too.

Far from creating global shortages, the veto on Russian oil imports which came into force on February 5 caused most countries to stockpile fuel, which has led to the dramatic decline in prices.

And the cost drop is particularly welcome in Spain where most motorists are paying more at the pumps since the beginning of the year, when the government scrapped the 20 cent per litre fuel discount for all but professional drivers.

This week, if an average is taken of the 11,400 service stations in Spain, filling a 50 litre tank will diesel will cost around 81.40 euros, 25 cents less than a fill of petrol.

The main positive is that the prices registered in Spain are below the European Union average, which stands at 1.724 euros per litre for both diesel and petrol, but the drop is still a long way from reversing the vast increase suffered in the last year.

Twelve months ago a litre of diesel cost just 1.462 euros, which is 11.35% cheaper than today.

Find all the latest motoring and travel news here or join our Driving in Spain Facebook group for regular updates

Image: Pexels

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