The price of gasoline already exceeds two euros and squanders the government subsidy

The average price of gasoline in Spain continues to rise unstoppably and in its seventh consecutive week of increases it exceeds the psychological barrier of two euros per liter in the case of the super 95.

Thomas Osborne
Thomas Osborne
09 June 2022 Thursday 04:49
12 Reads
The price of gasoline already exceeds two euros and squanders the government subsidy

The average price of gasoline in Spain continues to rise unstoppably and in its seventh consecutive week of increases it exceeds the psychological barrier of two euros per liter in the case of the super 95. In this way, the cost of fuel has already been eaten in its entirety the subsidy of 20 cents from the Government in force since last April.

Specifically, the average price of a liter of gasoline has been 2,048 euros, after registering a rise of 4% compared to seven days ago, according to data from the European Union Oil Bulletin. Counting on the subsidy, the price of a liter of super 95 is already higher than in the last week of March, just before the discount began to be applied.

In the case of diesel, the average price per liter, after three weeks of declines, has picked up again, with an increase of 3.45% compared to seven days ago, to stand at 1.916 euros.

In this way, despite this high price level for diesel, this fuel has registered a more favorable evolution since the beginning of March than that of gasoline. Applying the reduction of 20 cents per liter, its amount is still 12 cents less than at the end of March.

Compared to a year ago, the average price of a liter of gasoline has increased by 51.6%, while in the case of diesel it is 58% more expensive, although in this case without taking into account the current discount. An increase that has accelerated especially since the Russian invasion of Ukraine at the end of February, a period in which prices have shot up almost 30%.

With these levels, the price of super 95 gasoline in Spain is already above the European Union average, located at 2,018 euros per liter, although not in the euro zone, with an average price of 2,061 euros.

In the case of diesel, the price in Spain is also higher than the EU average, which is 1,908 euros, although it is below that of the euro zone, with a price of 1,942 euros.