Fuels have become more expensive by up to 17% since July
MADRID, 28 Sep. (EUROPA PRESS) -
The average price of fuel has continued its unstoppable upward climb and has chained its twelfth consecutive week of increases, accumulating an increase in prices of up to 17% since the start of summer.
Specifically, gasoline has become more expensive this week by 0.45% compared to seven days ago, to stand at 1.759 euros per liter, its maximum value so far in 2023 and the highest since the end of November, although At that time, the subsidy of 20 cents per liter implemented by the Government due to the crisis due to the war in Ukraine was in force, which helped alleviate that amount.
Thus, we would have to go back to the end of July of last year to find a higher level for the price per liter of this fuel, including the Executive bonus that was in force until the end of 2022.
This price level for gasoline, after accumulating an increase of 10.5% since the beginning of July, has led it to add one annual maximum after another in this month of September.
For its part, the average price of diesel also has twelve consecutive weeks of increases, with a 1% increase in the last week, to reach 1,685 euros per liter, a level that has not been seen since the end of January, according to data from the Bulletin European Union oil tanker collected by Europa Press.
Since the beginning of July, when this new upward spiral in fuel prices began, a liter of diesel has increased by 17%.
With these new increases, the price of both fuels is consolidated widely above the levels at which it was before the outbreak of the war in Ukraine due to the Russian invasion, which began on February 24, 2022 and, in the case for diesel, it was 1,479 euros per liter, and, for gasoline, 1,594 euros per liter.
However, both fuels have not reached, despite this upward trend in the last two months, the maximums they reached more than a year ago, when in July gasoline reached 2.141 euros and diesel 2.1 euros.
With current prices, filling an average 55-liter tank of gasoline currently amounts to about 96.74 euros, compared to the 81.45 euros - about 15.34 euros less - that it cost at this time last year, including the discount of 20 cents per liter that was in force a year ago.
In the case of diesel, filling an average 55-liter tank currently costs about 92.67 euros, about 3.46 euros more than the 89.21 euros it cost in the same period in 2022.
Last year, due to the increase in fuel prices due to the energy crisis caused by the war conflict, the minimum bonus of 20 cents per liter of fuel was in force for all citizens approved by the Government within its response plan to the crisis. impact of the war in Ukraine.
Likewise, with this, diesel has been below the price of gasoline for 32 consecutive weeks. It thus remains in the usual situation before the Russian invasion of Ukraine, which caused the price of diesel to be more expensive than gasoline continuously from August 2022 until mid-February of this year, when it broke that dynamic.
This upward spiral in fuel prices is mainly driven by the rise in the price of its raw material, oil. In this context, this Thursday a barrel of Brent, a reference in Europe, was trading at $94.6, while American Texas is trading at around $94.
The price of fuel depends on multiple factors, such as its specific price (independent of that of oil), the evolution of crude oil, taxes, the cost of raw materials and logistics, and gross margins. Furthermore, the evolution in the price of crude oil is not directly transferred to fuel prices, but rather does so with a time lag.
With these levels, the price of 95 unleaded gasoline in Spain remains below the average of the European Union, located at 1,840 euros per liter, and of the eurozone, with an average price of 1,922 euros.
In the case of diesel, the price in Spain is also lower than the EU average, which is 1,795 euros, and the euro zone, where the price is 1,855 euros.