Fuels add six weeks to the rise and accumulate an increase of up to 10.3% this summer

MADRID, 17 Ago.

Fuels add six weeks to the rise and accumulate an increase of up to 10.3% this summer


The average price of fuels has chained its sixth consecutive week of increases and has accumulated a rise of up to 10.3% so far this summer, thus consolidating gasoline at its maximum levels so far in 2023.

This new rise was recorded in a week that coincided with the special operation for the August bridge, in which the General Directorate of Traffic (DGT) estimated some 8.5 million road trips.

Specifically, gasoline has become more expensive this week by 0.71% compared to seven days ago, to stand at 1.692 euros per liter, its highest value since the end of November, although the subsidy of 20 cents per liter was then in force. liter implanted by the Government due to the crisis caused by the war in Ukraine.

In addition, this level of 1.692 euros per liter is reached after having registered an increase of 6.28% from the levels of early July.

For its part, the average price of diesel also chained its sixth consecutive week of rises (2.19%) to reach 1.586 euros per liter, a level that had not been marked since the middle of last March, according to data from the Boletín Petrolero de the European Union collected by Europa Press.

Since the beginning of last July, when this new upward spiral in fuel prices began, the average price of a liter of diesel has increased by 10.3%.

With these new increases, the price of both fuels is consolidated well above the levels at which they rose before the outbreak of the war in Ukraine due to the Russian invasion that began on February 24, 2022 and which, in the case of diesel , it was 1,479 euros per liter, and, for gasoline, 1,594 euros per liter.

However, both fuels remain far from the highs they reached more than a year ago, when in July gasoline reached 2,141 euros and diesel 2.1 euros.

With these prices, filling an average tank of 55 liters of diesel currently amounts to about 87.33 euros, compared to 88.33 euros - about 1.1 euros less - that it cost at this point last year, including the discount of 20 cents per liter that was in force a year ago.

In the case of gasoline, filling an average 55-liter tank currently costs about 93.06 euros, about 5.23 euros more than the 87.83 euros that it cost in the same period of 2022.

Last year, due to the escalation in the price of fuels due to the energy crisis caused by the war, the minimum bonus of 20 cents per liter of fuel for all citizens approved by the Government as part of its response plan to the impact of the war in Ukraine.

Likewise, with this, diesel adds 26 weeks in a row below the price of gasoline. Thus, it 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.

In this context, this Thursday a barrel of Brent, a benchmark in Europe, was trading at $83.77, while the American Texas is trading at around $79.69.

The price of fuels 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. In addition, the evolution in the price of crude oil is not transferred directly to fuel prices, but rather with a time lag.

With these levels, the price of 95 unleaded gasoline in Spain remains below the average for the European Union, located at 1.813 euros per liter, and for the euro area, with an average price of 1.874 euros.

In the case of diesel, the price in Spain is also lower than the EU average, which is 1,715 euros, and the euro zone, where it marks a price of 1,759 euros.