new fall and diesel at annual lows

He fuel price has returned to the Spanish state to descend this week, this has led to inflation moderation, and diesel has hit a new yearly low. Petrol is at its lowest level since early February.

Specifically, the diesel was sold this week at an average price of 1,437 eurosIt is down 1.1% from the previous week’s 1,453 euros, marking the sixth consecutive decline and reaching its lowest level since early July 2023.

As for petrolthe average price has fallen by 1.13% to 1,565 eurosThis is the seventh consecutive decline and the lowest level since early February.

For fuels, this downward spiral began in July, coinciding with dates marked by the holiday season, when road trips increase throughout the year.

Cheaper than last year

At current prices, filling up an average 55-liter tank of diesel costs around 79 euros, around 9.6 euros less than around the same time last year, when it cost around 88.6 euros. That means the average diesel price is now 10.8% cheaper than on the same dates in 2023.

For petrol cars, filling an average tank (55 litres) costs around 86 euros, around 8.6 euros (9%) less than in the same week last year, when the price was 8.6 euros.

In fact, both prices remain the same. below the level they were at before the outbreak of the Russian invasion of Ukraine (February 24, 2022), when a liter of diesel was 1,479 and gasoline 1,591 euros. The uncertainty and crisis caused by the invasion led to an increase in the prices of energy products, including fuel, which reached historic highs in July of that year: 2.1 euros for diesel and 2.141 euros for gasoline.

The price of fuel 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 directly reflected in the fuel prices, but happens with some delay.