The increase in gasoline prices remains unstoppable and has already chained twelve consecutive weeks of rises, reaching a new maximum for the year. At the same time, diesel has strongly resumed its upward path, absorbing a good part of the effect of the tax cuts applied with the activation of the safeguard mechanism in September.
Specifically, the average price of a liter of diesel has increased by 4.58% compared to the previous week, reaching 1.918 euros, according to the latest data from the European Union's Oil Bulletin consulted by Europa Press.
This spike has caused a large part of the benefits derived from the recovery of the 20 cents per liter bonus that was reintroduced at the beginning of September to fade at the pumps.
At the same time, the average price of a liter of gasoline has climbed this week to 1.928 euros, after increasing by 3.32% compared to the records from seven days ago.
With this new increase, gasoline has already accumulated an increase close to 30% since the end of June. In addition, it maintains the 'sorpasso' recorded two weeks ago, when its price surpassed that of diesel for the first time since March.
FILLING THE TANK NOW EXCEEDS 100 EUROS FOR BOTH FUELS
With current rates, filling a standard 55-liter diesel tank costs 105.49 euros, about 28 euros more than a year ago, when the cost was around 77.55 euros.
In the case of gasoline vehicles, completing an average 55-liter tank now implies an approximate expenditure of 106.04 euros, about 25 euros more than twelve months ago, when it was around 81.4 euros.
The continued escalation of recent months, following the outbreak of the conflict in Iran, is bringing both fuels to levels very close to the highs of summer 2022. In July of that year, gasoline reached 2.141 euros per liter and diesel reached 2.1 euros.
The final price of fuels is determined by various factors: their specific quotation (independent of that of oil), the evolution of crude oil, the tax burden, the cost of raw materials and transportation, as well as the gross distribution margins.
In addition, variations in crude oil prices are not immediately reflected at the pumps, but rather do so with a certain time lag.
PRICES IN SPAIN, CHEAPER THAN THE EUROPEAN AVERAGE
With these levels, the price of unleaded gasoline 95 in Spain continues below the average of the European Union, which is at 2.092 euros per liter, and also below that of the eurozone, where the average price is at 2.157 euros.
As for diesel, the amount in Spain remains lower than the EU average, which is at 2.226 euros, and that of the eurozone, where the liter marks a price of 2.262 euros.