The average price of gasoline and diesel oil continues to increase in Spain and this week has reached a new historical record, according to data from the European Union Oil Bulletin. Specifically, super 95 gasoline has risen to 1.968 euros per liter, which represents an increase of 1.44% weekly. Diesel, on the other hand, is sold from 1.852 euros/litre, 0.8% less than a week ago.
The increases in the price of automotive fuels thus chain their sixth consecutive rise since last Easter. In year-on-year terms, the average price of a liter of gasoline has increased by 48.4%, while diesel has climbed to 56.5%.
However, these increases leave another striking fact: since the government subsidy of 20 cents per liter in refueling came into force on April 1, the increase in prices has meant that this aid barely represents 25% of what initially assumed in the case of gasoline.
In other words, today the price of a liter of super 95 is only five cents cheaper than in the last week of March, before the discount began to apply. Neither is the case of diesel, in which those 20 cents per liter of initial savings are now about 18.5.
Despite everything, the price of unleaded gasoline of 95 is in Spain below the average of the European Union, located at 2.01 euros per liter, and of the euro zone, with an average price of 2.073 euros. The explanation lies basically in the lower tax burden on automotive fuels in Spain compared to most European countries.
In the case of diesel, after a few weeks above, the price in Spain is once again lower than the EU average, which is 1,856 euros, although it is below that of the euro zone, with a price of 1,894 euros.
These prices are recorded in an environment of constant increases in hydrocarbons after the Russian invasion of Ukraine. The barrel of Brent, a reference in Europe, was trading this Thursday above 113 dollars, while the American Texas was exchanged at just over 112.5 dollars.
