Average fuel prices in Spain drop to their lowest level since April

Image of a person putting fuel into a vehicle. Credit: bogdanhoda/Shutterstock

According to the latest data, fuel prices in Spain have fallen to their lowest level since April 2022.

 

According to data released today, Thursday, August 18, by the European Union (EU) Oil Bulletin, average fuel prices in Spain have fallen once again. Petrol stands at €1,597 and diesel at €1,606, once the government’s 20 cents per litre discount is applied. These are the lowest prices since April 2022.

Today’s figures are based on the average price registered at more than 11,400 Spanish service stations between August 9 and 15. Even without the discount, the prices of both fuels would be below €2/litre.

With these values, the cost of petrol has dropped by 3.8 per cent in the last seven days, registering its eighth consecutive fall. Diesel is 2.9 per cent cheaper than a week ago, with its seventh decrease in seven weeks.

Both fuels are now below the prices registered during the month of March when the government establish the bonus of 20 cents per litre for all consumers. Since the beginning of 2022, the price of petrol has increased by nearly 8 per cent, while diesel has gone up by 19 per cent.

With current prices, filling an average 55-litre tank, with either petrol or diesel, costs around €88. That means paying about €7 more than at the beginning of 2022 in the case of petrol, and €14 with diesel.

Despite the historically high values, the price of both fuels in Spain – once the discount has been applied – remains below the European average. According to EU statistics, last week these prices stood at €1,774/litre for petrol, and €1,804/litre for diesel, as reported by diariosdesevilla.es.

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Written by

Chris King

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. Got a news story you want to share? Then get in touch at [email protected]

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