Average Fuel Prices In Spain Remain Lower Than The EU Despite Hitting Highest Levels Since February

THE average price of fuel in Spain still keeps increasing on a weekly basis at the moment.

Diesel rose by an average of 2 per cent in the last week, the biggest increase since the beginning of summer. It currently stands at €1,668/litre according to data published this Thursday, September 21 by the Oil Bulletin of the European Union.

Today’s price is the highest since the beginning of February, shortly after the government subsidy of 20 cents per litre was stopped.

Petrol also went up by 0.92 per cent in the last seven days between September 12 and 18. It reached an average of €1.751/litre at the more than 11,400 petrol stations across the country that are consulted to calculate the costs, again the highest level since February.

Fuels have seen substantial rises in the last month

In the last month, Diesel has increased by more than 4 per cent and petrol by almost 2.5 per cent, bringing both fuels increasingly closer to their highs of June 2022.

At that time, both fuels stood at more than €1.90/litre, despite the fact that the subsidised discount was in force. These latest prices are 12.2 per cent and 9.8 per cent lower, respectively. Since the beginning of 2023, petrol has gone up by 26.6 per cent and diesel by 14.25 per cent.

Compared to the same period of last year, petrol prices have risen by 16.11 per cent. Their lowest prices were registered between June and July this year when prices were almost 10 per cent cheaper in the case of petrol and 15 per cent for diesel.

With today’s prices, filling a 55-litre tank with petrol will cost around €96.30, while the same with diesel would cost €91.74.

Fuel prices have increased in the EU as well

In the last 7 days, diesel has also become more expensive in the European Union. Specifically, it has gone up by 13 cents compared to the previous week, standing at an average price of €1.79/litre. That is about 13 cents above the average price of Spanish petrol stations.

Petrol has also risen again in Europe after it had remained the same last week. This week’s average price is €1,839/litre, but Spain is still nine cents cheaper.

The prices of the 19 countries that make up the Eurozone are higher than those of the EU and Spain. Petrol is €1.92/litre, 13 cents more expensive than Spain, while diesel is 16 cents more, at €1.85/litre.

Denmark and the Netherlands were the most expensive, with prices of €2.14 and €2.1/litre respectively. Meanwhile, diesel in Sweden has reached €2.2/litre and Finland is €2.

In contrast, the cheapest European countries were Poland, with €1.33 and €1.32/litre respectively, and Malta where fuel costs €1.34 and €1.32 euros, respectively.