By Chris King • 21 July 2022 • 18:28
Image of a driver refuelling a vehicle.
According to data released this Thursday by the European Union (EU) Oil Bulletin, the price of petrol in Spain has fallen again, for the fourth consecutive week, but still remains above €2/litre. Specifically, it stands at €2,026/litre, its lowest level since May. Diesel has also gone down in price, for the third week, currently at €1,971/litre.
These prices reflect the average price registered at more than 11,400 Spanish service stations between July 12 and 18. It includes all taxes, but not the 20 cents per litre discount offered by the government since April 1.
As the bulletin points out, it isn’t easy to reach an exact discounted price because the various oil companies are offering different loyalty promotions with varying discounts.
Despite this latest drop in price registered during the last week, the price of petrol remains at its eighth highest in history, just 5.9 per cent below its record. Diesel has also reached its fifth highest price since records existed.
High oil prices had been mainly responsible for the record fuel prices since the start of the year. That trend has gradually been reversed in recent weeks and is being reflected in the cost of fuel at the pumps.
Since the start of January 2022, the price of petrol has increased by 23 per cent, while diesel has gone up by 31 per cent. At today’s price, the cost of filling a standard 55-litre tank with petrol would be just over €100. The same action with diesel would cost €97. That equates to a price rise of €19 for petrol, and €23 with diesel.
Despite the historically high values, the price of both fuels in Spain remains below the European average once the discount has been applied. According to EU statistics, petrol currently stands at €1.929/litre, and diesel at €1,936/litre.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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