Price of diesel plummets in Spain with petrol also falling

Despite warnings of increases, the average price of diesel in Spain has taken a tumble, with petrol also dropping.

According to the latest data published today Thursday, February 16, by the European Union Oil Bulletin, the average price of diesel has plummeted in Spain. The cost of petrol has also fallen.

Today’s figures show diesel standing at an average of €1,633/litre, while petrol is at €1,628/litre. This marks the first time since August 2022 that Super 95 has been more expensive than diesel at the pumps.

Specifically, diesel fell by 2.92 per cent in the last week, with petrol prices dropping by 1.33 per cent. These are the second weekly falls in the price of fuel so far this year.

Market experts believe this significant fall in the price of diesel is due to the accumulation of reserves due to fears of a possible shortage after the veto on imports of Russian oil derivatives which came into force on February 5.

The data published today includes the average price registered in more than 11,400 Spanish service stations between February 7 and 13. Based on these latest figures, filling an average tank of 50 litres with diesel costs €81.40, and with petrol, €81.65. In the case of a 60-litre tank, this changes to €97.68 and €97.98 respectively.

Last week’s drop saw the price of diesel falling below the level marked at the end of December for the first time. This coincided with the government cutting the fuel discount of 20 cents per litre for motorists. Petrol though is still 4.35 per cent more expensive than at the end of last December.

These current average prices in Spain are below those of the European Union, where diesel and petrol both stand at €1.724/litre. In the Eurozone, the average is €1.750/litre for diesel and €1.777/litre for petrol.

France, Germany and Italy all exceed these levels, with ranges of between €1.780 and €1.853 for diesel and between €1.828 and €1.903 for petrol.

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