Petrol and diesel reach highest prices of the year in Spain
Rising fuel costs in Spain hiked inflation up to 2.6% in August
It’s already been a summer of pinching pennies for many people as inflation refuses to slow down, and the news was revealed this week that rising fuel costs are the main culprit. Today in Spain, filling an average 55-litre tank with petrol will cost eight euros more than in May, when both fuels reached rock-bottom prices.
In fact, the cost of petrol at the pumps is now at its highest level of the year, while diesel has hit its second most expensive price.
While the final figures won’t be out until September 12, the National Institute of Statistics (INE) has published a report indicating that inflation has picked up for the second consecutive month and now, at the tail-end of August, stands at 2.6%, up from 2.3% in July.
Between August 22 and 28, the average price of unleaded stood at 1.721 euros per litre, an increase of 0.65% in just one week. For its part, diesel has risen to 1.612 euros, becoming more expensive by 0.62%.
Just as the experts predicted, the real upswing began at the beginning of the summer and since July, petrol prices have jumped by 8.1% while diesel has skyrocketed by 12.1%.
Furthermore, with these new increases, the price of both fuels exceeds the levels they reached before the outbreak of the war in Ukraine that began on February 24, 2022. However, they’re still far from the highs experienced last year, when in July petrol reached 2.141 euros and diesel 2.10 euros.
With current prices, filling an average tank of unleaded currently amounts to about 94.65 euros, compared to 87.67 euros in August 2022, while a fill of diesel will cost 88.66 euros – around 3.90 euros less.
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