New prices for petrol and diesel fuel from this Thursday, November 7th.

Petrol and diesel brought good news to Spanish drivers, recording their first decline in early November after three consecutive increases, with declines of 0.2% and 0.07% respectively.

In this sense, the liquid gold in question, with the permission of oil, costs the average price per liter. petrol this week 1504 euros compared to 1507 euros a week ago. While diesel Its average price is 1391 eurosThis is evidenced by data from the European Union Petroleum Bulletin.

Thus, the average prices per liter of gasoline and diesel fuel resume the downward trajectory forgotten since the week of October 14, when gasoline cost 1.495 euros per liter and diesel fuel 1.383 euros.

Fill up your tank for less than 2023

At current prices, filling up an average 55-litre tank of diesel costs around €76.50, which is around €13.7 less than the same period last year, when it cost around €90.2.

For petrol cars, filling up an average tank (55 litres) currently costs around €82.72, which is around €8 less than the same week in October 2023, when the price was €90 (€0.75).

Fuel prices fell 8.9% for petrol and 9.2% for diesel as the downward spiral began in July this year, coinciding with certain dates during the summer holiday period when they are typically at their highest. travel on roads all year round.

In Spain, gasoline is cheaper than the European average

At these levels, the price of 95 unleaded petrol in Spain remains below the average price in the European Union (1,633 euros per liter) and the eurozone (average price of 1,683 euros).

In the case of diesel, the price in Spain is also lower than the EU average, which is 1,526 euros, and the eurozone, where the price is 1,550 euros.

The Ukrainian war is forgotten

Moreover, the average price per liter of diesel fuel, despite the recovery, remains below the level at which it was before the Russian invasion of Ukraine, which began on February 24, 2022, when it was 1,479 euros per liter. Petrol also remains significantly lower, as at that time its price was 1,591 euros per liter.

Likewise, both fuels remain far from the highs recorded in the summer of 2022 in July, when petrol reached €2,141 and diesel €2.1.

The price of diesel fuel has been below the price of gasoline for 88 weeks. Thus, the usual situation remains until the Russian invasion of Ukraine, due to which the price of diesel fuel was constantly more expensive than gasoline, from August 2022 until mid-February 2023, when this dynamic was disrupted.

The price of fuel depends on many factors, such as its specific price (independent of the price of oil), crude oil production dynamics, taxes, raw material and logistics costs, and gross margins.

Moreover, the evolution of crude oil prices does not directly affect fuel prices, but occurs with some time lag.