Truce in fuels: the price of gasoline drops three months later

Respite for drivers.

Oliver Thansan
Oliver Thansan
04 October 2023 Wednesday 16:45
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Truce in fuels: the price of gasoline drops three months later

Respite for drivers. The average price of gasoline is cheaper after three months of increases. Diesel does not follow the same fate, with another increase in price, as reflected in the EU Oil Bulletin published this Thursday.

In the case of gasoline, it fell 0.45% compared to the previous week, to stand at 1,752 euros, falling from the annual maximum it had last week, 1,759 euros. Fuel had risen more than 10% since July.

For diesel, prices rise another 0.11% in the week and remain at 1.688 euros per liter on average, figures not seen since the end of January. In the last three months there has been an increase of 17.3% in the cost.

The rebound in the barrel of oil, due to the cuts by producers and the awakening of demand in China, have boosted prices recently. Although Brent, the benchmark in Europe, reached close to $100 at the end of September, these days it is trading above $85.

With current references, filling a tank of about 55 liters with gasoline leads to an outlay of 96.3 euros, compared to the 81.18 euros - about 15.12 euros less - that it cost at this time last year. With diesel, you have to spend about 92.78 euros, up from 88.44 last year.

The outbreak of the war in Ukraine marked a before and after in the fuel market. Furthermore, the price of both fuels is largely consolidated above pre-conflict levels. Back in February 2022, diesel cost 1,479 euros per liter and gasoline cost 1,594 euros. Despite this, today they remain below 2 euros, figures that were reached in July of last year.