The price of diesel has continued its downward trend this week, with a reduction of close to 3% in the last two weeks, and has fallen below the threshold of 1.7 euros per liter for the first time since the second week of March.
Specifically, the average price of a liter of diesel has stood at 1.685 euros, after registering a drop of 1.86% compared to last week, thus marking its second consecutive decrease, according to data from the European Union's Oil Bulletin consulted by Europa Press.
Thus, the average price of diesel remains clearly below the 1.883 euros it reached in the week prior to the entry into force on March 22 of the government's fiscal measures to contain the impact of the war in Iran on prices.
As for the average price of a liter of gasoline, which has experienced smaller increases since the beginning of the conflict in Iran, it has become more expensive by 0.39% compared to the previous week, marking its third consecutive increase, to stand at 1.547 euros.
On March 20, the Executive, in an extraordinary Council of Ministers, approved a reduction of VAT on diesel, gasoline, and other hydrocarbons to 10%, as well as the reduction to the minimum allowed by the EU of the special hydrocarbon tax and special aid for transporters and the agricultural sector, to counteract the increase in this raw material in international markets following the rise in oil prices due to situations such as the blockade of the Strait of Hormuz.
These measures abruptly halted the upward spiral of fuels, which had led them to register a dozen weeks of increases, due to the impact of the crisis in the Middle East that has driven up the price of a barrel of crude oil since the end of February, although this downward trend in prices quickly disappeared, especially for diesel.
However, in the following weeks, both fuels showed decreases again, stabilizing their prices and offering some relief to motorists at service stations, a trend that has been consolidated.
Cost of filling a diesel and gasoline tank
With this week's prices, filling an average 55-liter diesel tank costs 92.67 euros, about 17.6 euros more than a year ago, when it amounted to about 75.07 euros.
For its part, for gasoline vehicles, filling an average tank (55 liters) currently costs about 85.08 euros, about 5 euros more than a year ago, when it was over 80 euros.
Despite the upward trend since the outbreak of the conflict in Iran, both fuels are still far from the highs they reached in the summer of 2022, in July, when gasoline reached 2.141 euros and diesel 2.1 euros.
The price of fuels is determined by numerous elements, such as their own quotation (independent of crude oil), the evolution of oil, the tax burden, the cost of raw materials and logistics, and the gross margins of the chain.
Furthermore, movements in oil prices are not immediately reflected in the final price of fuels, but rather with a certain time lag.
Spain, below the European average for fuels
With these levels, the price of unleaded 95 gasoline in Spain remains below the European Union average, which is 1.881 euros per liter, and the eurozone, with an average price of 1.941 euros.
In the case of diesel, the price in Spain is also lower than the EU average, which is 1.901 euros, and the euro area, where it stands at a price of 1.948 euros.