Fuels end their downward spiral of recent months and rise this week to 0.5%


The average price of fuels has seen an end this week to the downward spiral of recent months, which has led diesel and gasoline to levels below those prior to the outbreak of the war in Ukraine, at the end of February 2022 , and it has become more expensive by up to 0.5%.

Specifically, the average price of diesel has rebounded this week, after chaining ten falls, 0.42% compared to seven days ago, to stand at 1.415 euros per liter, according to data from the European Union Oil Bulletin ( EU) collected by Europa Press.

For its part, the average price of a liter of gasoline also leaves behind a series of five consecutive decreases and has risen this week by 0.5%, to climb to 1.584 euros per liter.

Despite these slight increases, both fuels continue to maintain a price below those registered before the outbreak of the war in Ukraine due to the invasion of Russia on February 24, 2022, when the average price of a liter of gasoline stood at around 1,592 euros, while the diesel amounted to 1,479 euros.

Subsequently, the escalation in the price of fuel led the Government to approve a minimum bonus of 20 cents per liter of fuel for all citizens, as part of its response plan to the impact of the war in Ukraine.

Likewise, diesel continues for the sixteenth week 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.

Compared to the first week of 2023, without the 20 cent discount applied by the Government last year, gasoline registered a decrease of 0.06%, compared to the 17% cheaper diesel.

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

Likewise, gasoline and diesel continue for another week far from the price they marked (1.818 euros in the case of the first and 1.837 euros for the second) before the entry into force of the aid of 20 cents per liter approved by the Government at the end of March of last year, and that, since the beginning of 2023, has only been maintained for the group of professionals, which includes carriers, farmers, shipping companies and fishermen.

In this context, this Thursday a barrel of Brent, a reference in Europe, was trading at around 73 dollars, while the American Texas is trading at around 69 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 95 unleaded gasoline in Spain remains below the average for the European Union, located at 1.719 euros per liter, and for the euro area, with an average price of 1.772 euros.

In the case of diesel, the price in Spain is also lower than the EU average, which is 1,540 euros, and the euro zone, where it marks a price of 1,571 euros.