Fuel prices in Spain have been frozen this week new reduction due to resumption of summer holidayswhich starts this Friday and runs through next Sunday. Diesel fuel hit a new yearly low, while gasoline was at its lowest since early February.
In particular, the average price per liter Diesel fuel reached 1437 eurosdown 1.1% from 1,453 euros the previous week, putting it on hold the sixth consecutive decline and marks the lowest level since early July 2023.This is evidenced by data from the European Union Oil Bulletin.
In case average price per liter of gasolineover the past week there has been a decline of 1.13%, to 1,565 euros. This is your seventh straight decline and lowest level since early February.
So heGasoline is down 3.9% and diesel is down 4.2%. as they began a downward spiral in July, coinciding with dates that mark the summer holiday period and when the greatest number of road trips are typically made during the year.
In particular, August is the strongest month of the year in terms of vehicle traffic, the Directorate General of Road Traffic (DGT) forecasts a total of more than 48 million tripsThis weekend, their reverse operation will be reviewed, which will run from this Friday until Sunday, September 1.
At current prices, filling the average 55-litre tank of petrol costs money. cost about 86 euroswhich is about 8.6 euros less than on the same days last year, when it was about 94.6 euros. For diesel vehicles, filling this fuel tank represents payout around 79 euroswhich is approximately 9.6 euros less than in the same week of August 2023, when the price was 88.6 euros.
In addition, both fuels continue far from the highs recorded in July 2022. At that time, petrol reached 2,141 euros, and diesel fuel – 2.1 euros. In addition, diesel remains below the level that existed before the Russian invasion of Ukraine. Gasoline too, the price of which at that time was 1592 euros per liter.
Likewise, diesel is already adding 78 weeks below gas prices. Thus, the usual situation remains, before the Russian invasion of Ukraine, due to which diesel prices were constantly more expensive than gasoline, from August 2022 until mid-February 2023, when the dynamics were disrupted.
At these levels, the price of 95 unleaded petrol in Spain remains below the European Union average. is at the level of 1682 euros per liter.and from the eurozone with an average price of 1,728 euros. In the case of diesel fuel, the price in Spain is also lower than the EU average, which 1557 euroand from the eurozone, where its price is 1,578 euros.
The price of fuel depends on many factors, such as its specific quote (irrespective of oil), crude oil production dynamics, taxes, raw material and logistics costs, and gross profit. In addition, crude oil price dynamics does not directly affect fuel pricesbut does so with a time delay.
At the opening of the stock exchange price of a barrel of quality Brent oil – a link to the Old Continent – traded slightly upwards, up to $77.62Meanwhile, a barrel of West Texas Intermediate (WTI) crude, the U.S. benchmark, rose just 0.05% to $74.56.
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