Fuels have become cheaper in the past week and are far from the maximums reached this summer
The fuel price this week gives some respite to the pockets of consumers, who have been dealing with the increase in the monthly bill to fill the tanks of their vehicles for quite some time. According to data from the latest European Union oil bulletin, the average fuel price has fallen by almost 2.3% this week. But gasoline does that at a much faster rate than diesel, and the difference between the two is already 16 cents.
In concrete terms, the average price of a liter of petrol has fallen to 1,708 euros for the third consecutive week. It is the lowest level since mid-April and represents a drop of 2.28% compared to the previous week. For diesel, the decrease is more limited, 2%, to 1,867 euros.
It is true that for diesel, current levels are the lowest since the third week of August. But it is already the sixth consecutive week that the price per liter has remained above that of petrol.
The oil bulletin figures include taxes levied on fuels in each country, but do not apply measures such as, in the Spanish case, the 20 cents per liter rebate approved by the government and effective April 1. become. If this ‘reduction’ is taken into account, the price of a liter of petrol would be EUR 1,508, while that of diesel would be EUR 1,667, in both cases lower than at the end of March, before the aid came into effect.
Despite the price decline in recent weeks, the price of fuels remains particularly high at this point in the year compared to previous years. Even with the application of the subsidy, the average price of a liter of petrol is 5% more expensive than a year ago, while for diesel the price is 30% higher.
The price of fuels depends on several factors, such as the specific price (independent of that of oil), the evolution of crude oil, taxes, the cost of raw materials and logistics and gross margins. Moreover, the evolution of the price of crude oil is not translated directly, but with a delay, to the fuel prices.
With these levels, the price of 95% unleaded petrol in Spain remains below the average of the European Union, at 1,760 euros per liter, and of the Eurozone, with an average price of 1,833 euros.
In the case of diesel, the price in Spain is higher than the EU average of 1,836 euros, but lower than that of the Eurozone, with a price of 1,874 euros. However, including the bonus of at least 20 cents per litre, the price of both fuels in Spain would be below the European average.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
