After fluctuating for two weeks, Spanish fuel prices have returned to a bearish trend.
Diesel prices have dropped by 1.32% in the last week, hitting their lowest point since the Russian invasion of Ukraine in February of last year. While gasoline has resisted the declines more, it still experienced its second biggest decline this year in recent days.
According to the Oil Bulletin of the European Union, the price of a litre of super 95 is currently at 1.635 euros, and diesel is priced at 1.571 euros. Both represent a decrease compared to the previous week, with diesel experiencing a more significant fall. Diesel has been the cheapest option for six weeks compared to gasoline.
The average cost of filling a 50-litre tank with diesel is 78.55 euros, while gasoline costs 81.75 euros. Filling a 60-litre tank costs 94.26 euros for diesel and 98.1 euros for gasoline.
Diesel prices have dropped over 5% so far this year, compared to the level at which it closed last year, despite the discount of 20 cents per litre of fuel in force. The prices have not been this low since the outbreak of the war in Ukraine over a year ago, when it was still at 1.496 euros. Gasoline prices were also cheaper back then, at 1,608 euros.
Despite experts' expectations of a rise in fuel prices, especially diesel, due to the ban on Russian oil products, there has been no significant rebound. In fact, the accumulation of reserves due to fear of a possible shortage has led to a larger decrease in the price of diesel compared to gasoline.
Spain's fuel prices are lower than the European Union average, which stands at 1,669 euros per litre for diesel and 1,711 euros for gasoline. The euro area's average is higher, at 1,700 euros per litre of diesel and 1,763 euros per litre of super 95. Countries like France, Germany, and Italy have even higher prices, ranging from 1,704 to 1,818 euros for diesel and 1,796 to 1,912 euros for gasoline.