The price of gasoline in Spain reaches annual highs for the 2024 Easter weekend, after registering nine consecutive increases. However, filling up the tank will be slightly cheaper compared to Easter last year. The price of diesel adds up to three drops and will mean a slightly higher import cost than 2023 to fill the car. The Easter weekend, which begins this Thursday and will last until next Monday in some autonomous communities, is considered to be one of the busiest times of the year on Spanish roads.
The General Directorate of Traffic (DGT) foresees from Wednesday afternoon, when the second phase of the special Easter operation begins, more than 9.6 million road trips until midnight on Monday, April 1, a holiday. . in seven autonomous communities (Balearic Islands, Cantabria, Catalonia, Basque Country, La Rioja, Valencian Community and Navarra).
The average price of a liter of gasoline stands at 1,616 euros on average, its highest level since mid-November, according to the latest data from the European Union Oil Bulletin collected by Europa Press. Meanwhile, the average price of a liter of diesel is 1,532 euros, after three decreases, its lowest level since mid-February.
How much does it cost to fill a tank?
The average price of both fuels began 2024 registering its first increases in three months, after accumulating one decrease after another since the end of September that led it to end last year at the lowest levels of the year after adding a reduction in prices of almost 15%. .% in the case of gasoline, and more than 13% for diesel.
With current prices, filling an average 55-liter tank of gasoline costs about 88.88 euros, about 92 cents less than on the eve of Easter last year – although then it fell on the dates from the 2nd to the 9th. April festivities -, when it amounted to 89.7 euros and the discount of 20 cents per liter that was in force for much of 2022 no longer existed.
For diesel cars, filling an average tank (55 liters) involves an outlay of 84.26 euros, about 17 cents more expensive than in 2023, when the price was 84.09 euros.
However, despite these average price levels for fuels, it is possible to find a liter of 95 gasoline in different parts of the Iberian Peninsula in a price range between a minimum of 1,385 euros and a maximum of 1. 95 euros, in the case of diesel the price can vary from 1,169 euros to 1,999 euros, according to data from the Geoportal of the Ministry for the Ecological Transition and the Demographic Challenge consulted by Europa Press.
Higher price than before the invasion of Ukraine.
The average prices per liter of gasoline and diesel remain above the levels they were at before the outbreak of the Russian invasion of Ukraine, which began on February 24, 2022, when they were 1,592 euros and 1,479 euros per liter . , respectively. However, both fuels are still far from the maximums recorded in the summer of 2022, in July, when gasoline reached 2,141 euros and diesel reached 2.1 euros.
Likewise, diesel has now been below the price of gasoline for 56 weeks. It thus remains in the usual situation prior to the Russian invasion of Ukraine, which caused the price of diesel to be more expensive than gasoline continuously from August 2022 to mid-February 2023, when the dynamic was broken.
What does the price of fuel depend on?
The price of fuel 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. Furthermore, the evolution in the price of crude oil is not directly transferred to fuel prices, but rather does so with a temporary change.
Cheaper than the European average
With these levels, the price of 95 unleaded gasoline in Spain remains below the average of the European Union, located at 1,742 euros per liter, and of the eurozone, with an average price of 1,794 euros. In the case of diesel, the price in Spain is also lower than the EU average, which is 1,677 euros, and the euro zone, where the price is 1,706 euros.
