Despite the slight interruption in full operation, filling the tank costs up to 23.5 euros more than a year ago in the most expensive August in history
The fuel price is giving a pause in the pockets of consumers who are fully in business from August. But only half. According to data from the latest European Union (EU) oil bulletin, this is the sixth consecutive week of price drops at gas stations. But it is also the most expensive August in history, because despite the decline, refueling is still between 16 and 23.5 euros more than a year ago, depending on whether petrol or diesel is used. On average about 94 euros for a tank of 55 liters.
In concrete terms, the average price of a liter of petrol this week stood at 1,902 euros, 2.6% less than the previous one. The average price of diesel, in turn, is 1,893 euros. In both cases this is the lowest level since May and if the end of June is taken as a reference – when prices started to fall after a wave of continuous increases – petrol costs have fallen by 11.2%, while the fall is 10% in the case of of diesel.
The EU oil bulletin data does not include the government-approved bonus of 20 cents per liter – which came into effect on April 1 and was extended – which in some cases has led to higher rebates in light of the different strategies discounts adopted by the major oil companies to build customer loyalty. For example, the average price of petrol would be 1,702 euros, while that of diesel would be 1,693 euros per litre.
While this is an average and these levels are exceeded at some petrol stations, drivers will be grateful not to have to deal with the two euros per liter exceeded during the most tense times of the market during their holiday. Of course, they must not forget that the cost of this exit operation is still high, as it still exceeds the previous record of the first week of August set in 2013. A liter of petrol then cost 1,472 euros and that diesel cost 1,376 euros.
“If we are going on a long road trip, it is worth looking at which gas stations offer the best prices at the origin, destination and during the journey,” the analysts of EFPA Spain say. Similarly, they are calling on the General Directorate of Traffic (DGT) to drive the vehicle efficiently, with it being estimated that between 30% and 50% of the cost depends on how the owner drives.
The recent moderation in oil prices has a lot to do with the decline in fuels. From the peaks of 120 euros that were reached at the end of May, the Brent barrel, a reference in Europe, now trades around 95 dollars. However, the price at the pumps also depends on other factors such as taxes or logistics and transport costs.
According to the European bulletin, Spain -including bonuses- remains below average in Europe, where petrol is sold for 1,856 euros and diesel for 1,878 euros per litre. Without the subsidy, prices would be higher than in the EU. Yet it is more expensive to fill up in neighboring countries such as France (1,844 euros per liter of petrol and 1,878 euros for diesel) and Portugal (1,889 and 1.83 euros respectively).
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.
