Gasoline and diesel price up more than 2% to set new historic records

Updates

The trend of increase in the average price of one liter of diesel and gasoline is consolidated, rising for the third consecutive week

multiple vehicles
Refueling at a gas station in Madrid.EFE
  • 6 May 2022 Petrol and diesel prices highest in last one month
  • 1 April 2022 20 cents discount applicable on petrol and diesel prices: Works like this

The average fuel price in Spain has risen and climbed more than 2% this week new all-time highHowever it remains contained by imposing mandatory exemption of 20 cents per liter approved by the government which is done at gas stations while making payment.

Notably, the average price of a liter of diesel and gasoline has risen for the third consecutive week after Easter. Consolidate your upward trend.

According to data from the Oil Bulletin of the European Union (EU) collected by Europa Press, 1,911 Euro per liter diesel They represent a new all-time high, up 2.08%, up from EUR 1.872 a week ago.

For petrolAverage price per liter has also reversed for the third consecutive week with a growth of 2.08%. 1,878 euros And thus reached a new record.

sanctions

However, these average prices do not include a bonus of at least 20 cents a liter approved by the Spanish government and implemented since April 1.

With the application of the bonus, the average price would be 1,678 euros per liter for gasoline and 1,711 euros for diesel, although these figures would not be entirely accurate, as there are higher discounts depending on the oil company.

what i know Another week consolidates from diesel to gasoline ‘Sorpaso’With a difference of more than three cents, something that hadn’t happened since 2011.

Thief than a year agoaverage price of a liter Petrol becomes costlier by 39.73%while in the case of Diesel 59.38% more expensiveAlthough without taking into account the currently valid bonus.

oil alza

These prices have been recorded due to rise in crude oil Fear of supply shortage after European Commission proposal To veto Russian oil imports this year. Thus, a barrel of Brent, a reference in Europe, was trading at around $105 this Thursday, while the US Texas exchange was up over $103.

The price of a fuel depends on many factors, such as its specific price (independent of oil), development of crude oil, taxes, costs of raw materials and logistics, and gross margin.

In this way, crude oil price developments are not directly transferred to gasoline prices, but rather occur over a time lag.

Despite these levels, 95K unleaded gasoline costs less than EU average in Spain, located at 1,903 euros per litre, and from the euro area, with an average price of 1,978 euros. Something similar happens with diesel, as the price in the EU is 1,905 euros (in Spain it is higher, with 1,911 euros, but without taking into account the bonus) and 1,953 euros in the euro area.

The lower level of final prices relative to neighboring countries is due to the fact that Spain, despite VAT, high taxes and levies on biodiesel, continues to be under financial pressure compared to the community average in general.

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