Total Revenue Of Petrol Stations In Spain and Portugal Grew By 41 Per Cent in 2022

THE total revenue of petrol stations in Spain and Portugal grew by 41 per cent in 2022.

This data was revealed in a recent study conducted by the DBK Sector Observatory of Informa, which is a subsidiary of Cesce, the Spanish Export Credit Agency (ECA).

According to their report, these revenues were driven by the rise in prices, reaching a total of more than €52 billion. It indicated that the rise in prices was motivated by the ‘extraordinary’ rise in oil prices which subsequently led to a sharp rise in income from fuel sales.

The volume of fuel sold in Spain and Portugal stood at 39.24 million tons in 2022, which was 2 per cent more than the previous year. Sales in Spain alone totalled 33.32 million tons, 1.6 per cent above 2021, as reported by 20minutos.es.

Petrol sales stood at 5.75 million tons, representing an increase of 9.7 per cent, while those of diesel were 27.57 million, just 0.1 per cent up on the previous year.

Portuguese petrol sales increased by 9.8 per cent

A positive variation rate of 4.6 per cent was recorded in Portugal, reaching 5.92 million tons. Petrol sales increased by 9.8 per cent compared to 2021, totalling 1.07 million tons. Diesel experienced a rise of 3.5 per cent, standing at 4.84 million.

In 2022, petrol stations on the Iberian Peninsula channelled 98 per cent of total petrol sales, combined with 78 per cent of diesel sales.

As a result, the volume of fuel sold through service stations in the Iberian market in 2022 increased by 3.7 per cent, standing at 27.86 million tons.

Of this total, 6.68 million corresponded to petrol, with a rise of 9.7 per cent, with another 2 per cent increase in diesel, up to 21.18 million.

The report predicted a decrease in business volume in 2023

However, the report highlighted that the slowdown in the growth of economic activity, both in Spain and Portugal, will affect the demand of the sector in the 2023-2024 biennium.

It estimated that the drop in the average price of fuel in 2023 compared to that registered in 2022 – despite the rebound in the second half of the year – could see a decrease in the aggregate business volume of service stations at the close of this year.

In December of last year, there was a 2.2 per cent increase in the number of service stations operating in the entire Iberian market, which stood at 14,563. A slight acceleration was experienced in the growth rate compared to previous years said the report.

In Spain there were 11,498 petrol stations on that date, an increase of 2.3 per cent, while the number in Portugal increased by 1.8 per cent, to stand at 3,065.