Fuel prices in Spain keep falling but August still the most expensive in history

August is currently the most expensive in history despite fuel prices continuing to fall in Spain.

According to weekly data released this Thursday, August 4, by the European Union (EU) Oil Bulletin, which includes the average price registered at more than 11,400 Spanish service stations between July 26 and August 1, fuel prices in Spain continue to fall.

Petrol has dropped to an average of €1,702/litre, while diesel stands at €1,693/litre. These prices – which include the Government’s 20-cent discount – mean that filling an average 55-litre tank with either fuel costs around €93. This equates to paying around €16 more than a year ago in the case of petrol, and €23 for diesel.

Despite the fact that fuel has racked up several weeks of decreasing prices,  this is still the most expensive month of August in history. Until now, the highest prices in the first week of August were recorded in 2013, when a litre of petrol cost €1,472, and diesel was €1,376/litre, 16 and 19 per cent less, respectively, than the current values.

Compared to August 2021, today’s fuel prices are 17 and 25 per cent more expensive respectively. During this same week last year, petrol was €1,416/litre, and diesel was €1,29/litre.

Fuel prices without the government discount would be €1,902/litre for petrol, and diesel would be €1,893/litre. The discount saves motorists around €11 on filling a 55-litre tank.

Today’s prices are already lower than at the end of March when the discount came into force. The European average is currently €1,856 for petrol, and €1,878 for diesel.

Denmark has the most expensive petrol in the EU, with an average of €2.218, while Finland stands at €2.19. Nordic countries also have the highest diesel prices, with Sweden at €2.37, and Finland at €2,153.

By contrast, the lowest prices on the continent are recorded in Hungary at €1.29/litre, and Malta at €1.34/litre. Similarly, diesel is €1.21 in Malta, and €1,558 in Hungary.

Spain has the lowest prices compared to its neighbours. In Germany, petrol is €1,814/litre and diesel, €1,943 euros. France has €1,844 and €1,878 respectively, Italy €1.877 and €1.851, and Portugal €1.889 and €1.83/litre.

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