Average fuel prices in Spain start to stabilise after Easter

The average fuel prices in Spain have stabilised slightly this week according to the latest data published by the European Union’s Oil Bulletin.

According to the latest data published by the European Union’s Oil Bulletin this Thursday, April 13, average fuel prices in Spain are starting to stabilise again after Easter. Both petrol and diesel are currently below the price they were when the government introduced the 20 cents per litre discount at the end of March 2022.

Diesel stands at €1.52/litre, dropping 0.65 per cent compared to seven days ago. Petrol however has increased for the second consecutive week, rising by 0.50 per cent to an average of €1.64/litre at pumps across the country.

At these current levels, both fuels remain far from the highs they reached last summer. In July 2022, petrol reached €2.141/litre and diesel €2.10/litre.

Filling an average 55-litre tank with petrol at this time last year cost €87.50, some two euros less than the €90.20 it would cost now. Meanwhile, last April, a tank of diesel cost €88.70 which was €5 more than the current price.

Fuel prices depend on many factors, such as the specific fuel price (independent of the oil price), the evolution of crude oil, taxes, the cost of raw materials and logistics and gross margins. Moreover, changes in the crude oil price are not directly passed on to fuel prices, but with a time lag.

With these levels, the price of 95 unleaded petrol in Spain remains below the European Union average, of €1.763/litre. In the Eurozone, it stands at €1.815/litre on average.

In the case of diesel, the price in Spain is also lower than both the EU average of €1.652/litre and the Eurozone average of €1.684/litre.