After falling for consecutive weeks, fuel prices in Spain have risen for the first time since the start of summer. Petrol now sits at an average price of €1.794 per litre, and diesel at €1.882 per litre.
According to data from the European Union’s Oil Bulletin, which calculated the average price from over 11,400 petrol stations in Spain between August 23rd and 29th, the prices of both types of fuel are still below the €2 per litre threshold even before the government’s 20 percent fuel discount is applied.
With the government discount taken into account, the average price of a litre of petrol sits at €1.594 per litre, while the price of diesel – which is actually experiencing its second consecutive increase – is €1.682 per litre after the 20 percent reduction.
The price of petrol has increased by 0.5 percent in the last week, and diesel is 4 percent more expensive than a week ago.
Since the Russian invasion of Ukraine, the broader fuel and energy market has suffered price shocks and rising costs have been passed down to the consumer. Drivers were given some summer respite, however, as prices gently fell through those months, but now both types of fuel are rising again.
Although prices are very volatile, it is possible to calculate roughly how much filling a tank would cost based on the latest figures. Filling an average 55 litre tank would now cost around €88 for petrol, and €93 for diesel.
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Yet, despite these eye watering prices, the government’s 20 percent discount on fuel means that prices in Spain remain below the European average. According to EU figures, the European-wide average last week was €1.782 per litre for petrol, and €1.911 for diesel.