Diesel in Spain soars by 14 per cent and overtakes petrol

Fuel prices have risen for the eighth consecutive week in the heat of the war in the Middle East and the price of a barrel of oil is around 100 dollars.

The average price of a litre of diesel in Spain has risen 14.1 per cent in the last week to 1.645 euros, the highest since the end of October 2023, while petrol has climbed 7.7% to 1.60 euros, the highest since August 2024, according to EU data.

This rise confirms that diesel has overtaken petrol, which has made the historical advantage of diesel over petrol in Spain disappear. The price of the raw material weighs more on diesel than on petrol.

In both cases, however, these are the largest increases since March 2022. The prices of both fuels are above the levels they were at before the Russian invasion of Ukraine, which began on 24 February 2022.

At that time, the price per litre of diesel was 1.479 euros, while petrol also grew above the price of 1.591 euros per litre at that time. However, both fuels are still well below the highs of the summer of 2022, when petrol reached an average price of 2.141 euros and diesel reached 2.1 euros. At current prices, filling up a medium-sized tank (55 litres) in Spain costs 88 euros for a petrol driver and just over 90 euros for a diesel driver.

Despite the sharp rises, average Spanish prices are still below the European average. The price of 95 petrol in Spain remains below the EU average of 1.774 euros per litre and below the Eurozone average of 1.835 euros. The price of diesel is also lower than the EU average of 1.861 euros and the Eurozone average of 1.893 euros.