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HomeLatest NewsThe price of diesel falls 1% and adds two weeks below gasoline

The price of diesel falls 1% and adds two weeks below gasoline

Date: March 27, 2023 Time: 12:26:07

The average price of a liter of gasoline has risen again this week in Spain, standing at 1,636 euros, with an increase of 0.18% compared to the previous week. On the other hand, diesel has become cheaper by 1%, to 1,611 euros per liter, according to data from the European Union Oil Bulletin collected by Europa Press.

In this way, the average price of diesel in Spain remains for the second consecutive week below that of gasoline, as was usual before the Russian invasion of Ukraine, which caused the price of diesel to remain above that of gasoline continuously since mid-August 2022 and until last week, when that dynamic was broken.

The withdrawal of the discount of 20 cents

Since the beginning of the year, without the discount of 20 cents applied by the Government last year, gasoline has accumulated a rise of 3.28%, compared to the 3.01% that diesel has dropped. The largest decrease in the price of diesel compared to gasoline occurs after registering a greater collection of reserves of this fuel due to fears of a greater shortage in Europe due to the veto on Russian diesel.

In addition, the main oil companies that operate in Spain have opted to maintain their discounts of 10 cents -which may be higher depending on the degree of loyalty- to their customers during the first quarter of the year. 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 below the amount they marked at the end of March last year and which, since the beginning of 2023, has only been maintained for the group of professionals, which includes carriers, farmers, shipping companies and fishermen.

Fill the tank, between 2 and 7 euros more expensive

Compared to a year ago, the price of a liter of gasoline is 2.76% more expensive, and that of diesel is 8.92% higher, so that filling an average 50-liter tank costs around two euros more if it is of gasoline and almost 7 euros more if it is diesel that in the same week of 2022 is exchanged at about 74.2 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.

Cheaper in Spain than in its surroundings

With these levels, the price of 95 unleaded gasoline in Spain remains below the average for the European Union, located at 1,727 euros per liter, and for the eurozone, with an average price of 1,776 euros. In the case of diesel, the price in Spain is also lower than the EU average, which is 1,713 euros, and the euro zone, where it marks a price of 1,737 euros.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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