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The price of gasoline marks the maximum of the year in the middle of summer and exceeds 1.7 euros.

Date: June 20, 2024 Time: 11:58:15

The price of fuel chains its seventh consecutive week of increases and drags the price of a liter of gasoline to exceed the level of 1.7 euros and that of diesel to exceed 1.6 euros. Thus, gasoline has become more expensive in the last seven days by another 1% compared to the previous week and stands at 1,709 euros per liter, its maximum value so far this year and the highest since the end of November – when the subsidy of 20 cents that the Government approved for the crisis of the invasion of Ukraine was in force.

It would be necessary to go back to the beginning of August of last year to find a higher level for the price of a liter of this fuel, taking into account the application of the Executive that was in force until the end of 2022. For its part, the average price of diesel also chains seven consecutive weeks of increases, with an increase of 0.94% in the last week, to reach 1,601 euros per liter, a level that had not been marked since the penultimate week of last February, according to data from the Uni Oil Bulletin on Europe collected by Europa Press.

Increases since the beginning of July

Since the beginning of July, when this new upward spiral in fuel prices began, a liter of gasoline accumulates an increase in its price of 7.34%, while that of diesel adds an increase of 11.3%. 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 . , was 1,479 euros per liter, and, for gasoline, 1,594 euros per liter.

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

Filling the tank is 6.7 euros more expensive for gasoline

With current prices, filling an average tank of 55 liters of gasoline currently amounts to about 94 euros, compared to 87.3 euros – about 6.7 euros more – 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 diesel, filling an average 55-liter tank currently costs about 88 euros, barely 30 cents less than the 88.3 euros 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 application of 20 cents per liter of fuel was in force for all citizens approved by the Government within its response plan. to the impact of the war in Ukraine.

Likewise, with this, diesel adds 27 consecutive weeks 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 dollars, while the American Texas is trading at around 78.8 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 temporary sticker.

Cheaper in Spain than in the surroundings

With these levels, the price of 95 unleaded gasoline in Spain remains below the average for the European Union, located at 1,817 euros per liter, and for the euro area, with an average price of 1,877 euros. In the case of diesel, the price in Spain is also lower than the EU average, which is 1,718 euros, and the euro zone, where it marks a price of 1,756 euros.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

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