The liter of diesel exceeds 1.91 euros, and that of petrol 1.87, above March, runaway by the continuous rises of crude oil
A month after the government launched the bonus of at least 20 cents per liter to cushion the rise in fuel prices, the last few days have seen a new upward spiral, taking them to an unprecedented level.
The cost of diesel is already above 1.91 euros per litre, on average across Spain, although more and more petrol stations are reporting prices above two euros per litre. It is a reference that has never before been seen in the supply points in such a widespread way as is now shown by the price posters.
This reference shows that the liter of diesel has increased by more than 2.5% in the past month. At the end of March, when the instant aid system was launched, it cost an average of 1.86 euros per litre. During these last 30 days, diesel has registered high volatility. Halfway through the month, in the middle of Holy Week, it dropped to 1.79 euros. Since then, the price has risen by more than 10 euro cents per liter in the past two weeks.
A similar evolution occurred in the price of petrol, which is currently around 1.87 euros per litre. In the past month, costs have increased by 2.7%. Although also in mid-April, the price dropped to the level of 1.78 euros per litre, practically ten euro cents cheaper than now.
These fuel price hikes are starting to eat up some — even a small portion — of the bonus the state has introduced since April 1. It’s a direct aid of 15 cents a liter, which is taken by the treasury, plus another five cents, when it comes to gas stations that are not owned by major oil companies. In addition, every company is obliged to offer an extra discount of five euro cents. Discount that, in the case of Repsol, Cepsa or BP, ultimately amounts to 10 cents, with a global discount of up to 30 euro cents per litre.
In other words, a large proportion of drivers who refuel today actually pay for diesel, on average 1.61 euros, and petrol, also on average, around 1.57 euros. These are very high references that bring consumers back to prices at the beginning of March, when the war in Ukraine was already felt at the pumps.
In principle, the measure that cuts fuels in general will be in effect until June 30, as approved by the government at the end of March. Although on different occasions, different members of the Executive at that time will review the extension or partial application -for rent- depending on the pricing context that exists when the summer arrives.
What seems clear for now is that fuels will not fail, at least in the medium term. According to the latest oil references, diesel and petrol are expected to cost even more in the coming weeks as they shift the price of commodities in international markets. The Brent barrel is trading at around $109 on Wednesday, 3% more than Tuesday, after the European Commission’s veto against Russian oil imports in the coming months.
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.
