The price of gasoline falls by 1.12% and diesel falls for the third consecutive week (-3.24%)

MADRID, 24 Nov.

The price of gasoline falls by 1.12% and diesel falls for the third consecutive week (-3.24%)


The average price of gasoline in Spain has fallen by 1.12% after two consecutive weeks of increases, while that of diesel accumulates three consecutive weeks of decreases, with a fall of 3.24% in relation to the previous seven days, with which the gap between both fuels drops to 11 cents in favor of diesel.

Specifically, the average price of a liter of gasoline has fallen this week to 1,764 euros, returning to levels similar to those at the end of last October, while that of diesel has decreased to 1,876 euros, its lowest level since the week on October 10 (when it stood at 1.857 euros), according to data from the European Union Oil Bulletin collected by Europa Press.

Despite these price levels, both fuels remain far from the highs they reached this summer, when in July gasoline reached 2,141 euros and diesel 2.1 euros.

Likewise, gasoline remains below the figures from before the entry into force of the aid of 20 cents per liter that the Government approved at the end of March -1.818 euros per liter--, although in the case of diesel it continues to exceed that level -1,837 euros-- despite the latest declines.

In addition, the average price of a liter of diesel in Spain remains above that of gasoline for the fifteenth consecutive week, with a gap that this week has been cut to just over 11 cents.

This average amount of both fuels includes taxes, but does not reflect the discount that came into force since April 1 of at least 20 cents per liter, since there are higher discounts, depending on the oil company and customer promotions loyal.

Counting on this subsidy, the price of a liter of gasoline would be 1,564 euros, while that of diesel would be 1,676 euros, in both cases clearly lower than the ones it marked at the end of March, before the entry into force of the aid.

The Government is reconsidering whether to keep this bonus focused on some sectors and not universally or eliminate it, given its high cost and its lack of progressivity.

Compared to the same week a year ago and including the subsidy, the price of a liter of gasoline is 3.37% more expensive than a year ago, while in the case of diesel the price is 21.36% higher .

These figures are recorded in an environment of high crude oil prices in the current context, marked by the war in Ukraine. Thus, this Thursday the barrel of Brent, a reference in Europe, was trading around 84.7 dollars, while the American Texas was trading around 77.7 dollars.

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 unleaded gasoline of 95 and without taking into account the subsidy, remains in Spain above the average of the European Union, located at 1,729 euros per liter, but below that of the eurozone. with an average price of 1.78 euros.

In the case of diesel, the price in Spain is higher than the EU average, which is 1,851 euros, and similar to that of the euro zone, with a price of 1,876 euros.

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