ARCHIVED - Fuel in Spain finally dips in price
Despite the slight decrease, petrol in Spain is still at its fourth-highest price in history
Petrol and diesel prices have finally put the brakes on after months of escalation and dropped to an average of 1.912 euros per litre and 1.876 euros, respectively, in the last week, after the government’s 20-cent discount is applied.
This is the second consecutive week we’ve seen a decrease in petrol prices in Spain: over the past seven days, a litre has dropped by 0.8% while diesel has experienced its first price-cut in three months, and is 1.3% cheaper than it was a week ago.
However, according to the data released by the European Oil Bulletin on Thursday July 7, which collated fuel costs in more than 11,400 Spanish service stations between June 28 and July 4, if the government’s bonus scheme is excluded, both petrol and diesel would both exceed the 2 euros per litre barrier.
In addition, despite the slight drop experienced this week, petrol is still at its fourth-highest price ever and diesel at its second-highest.
To mitigate the global rise in oil prices, the Spanish government has extended the fuel bonus until December 31, but this measure has fallen far short of expectations. Even with the discount, fuel costs continue to skyrocket, with hundreds of filling stations across Spain hiking up their prices to compensate.
In fact, a study by EsadeEcPol has confirmed that, since the government discount scheme began on April 1, filling stations have responded with increases of 0.7 cents on the price of petrol and 3.52 cents on diesel.
With the current prices, filling an average 55-litre tank with petrol now costs 105 euros, while with diesel it stands at 103 euros. Incredibly though, thanks to the government bonus, drivers are saving around 11 euros a fill.
Despite the record-breaking increases, the price of both fuels in Spain is still below the European average, which currently stands at 1.993 euros per litre for petrol and 1.997 euros for diesel.
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Image: Pixabay
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