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Petrol price rises again and starts at par with diesel

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For the second week in a row, Petrol prices have increased once again while diesel continues to decline, which is already reaching its third straight week, narrowing the gap between the two fuels to about 15 cents on the latter side. Specifically, the average price of gasoline increased by 0.73% this week to 1.784 euros. Highest level since late AugustAccording to weekly data from the European Union Oil Bulletin.

In the case of diesel, which recorded its third straight week of decline, the A decrease of 1.22% brings its price back to 1.939 euros per liter, the lowest level since the week of October 10. Despite these high prices, both fuels are far from the highs reached this summer, when petrol reached 2,141 euros and diesel 2.1 euros in July.

in the same way, Petrol remains below the figures before the 20 cent subsidy was implemented -1.818 euros per liter- approved by the government at the end of March, although in the case of diesel it is -1.837 euros- above that level.

The gap between diesel and petrol narrows to 15 cents

Thus, the average price of diesel in Spain is maintained Petrol prices up for fourteenth consecutive week, has been reduced to just under 15 cents this week. This average amount for both fuels includes taxes, but does not reflect the discount of at least 20 cents per liter from April 1, as there are higher discounts depending on the oil company and customer loyalty promotions.

Depending on that grant, A liter of petrol will cost 1,584 euros, while diesel will cost 1,739 euros., in both cases markedly lower than those marked at the end of March before the aid was implemented. The government is reconsidering whether to focus the bonus on certain sectors and keep it universal or scrap it given its high cost and lack of progress.

More expensive than a year ago

Regarding the collection of subsidy in the same week a year ago, A liter of gasoline is 4.7% more expensive than a year ago, while diesel is 25.4% more expensive.. These figures are reported in the context of high crude oil prices in the current context marked by the war in Ukraine. Thus, this Thursday a barrel of Brent, the reference in Europe, was trading at around 92.4 dollars, while the American Texas was trading at around 85 dollars.

The cost of fuel depends on many factors, such as its specific price (independent of oil), the evolution of crude oil, taxes, cost of raw materials and logistics, and gross margin. In addition, the evolution of crude oil prices is not directly transferred to fuel prices, but with a time lag.

With this level, the price of 95 unleaded gasoline in Spain remains constant Below the European Union average, 1.792 euros per liter, and from the Eurozone, located with an average price of 1.849 euros. In the case of diesel, the price in Spain is lower than the EU average, which is 1.889 euros, although not with respect to the euro zone, with a price of 1.913 euros.

Source: lainformacion.com

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