The fuels don’t give up. This item was one of the main drivers of inflation in August, when it became 7.2% more expensive compared to the decline in 2022. The trend continues in September. The price of gasoline and diesel has been rising for 10 weeks in a row, a period in which fuels have become more expensive by up to 13.55%, with gasoline adding its highest price since the end of July 2022 and diesel since the beginning of February.
According to data from the EU Oil Bulletin, in the week of September 5-11, which coincided with the return to school, the price of gasoline increased by 0.23% compared to the previous week, reaching 1.735 euros per liter, its previous high in 2023 and the highest since the end of November, although at that time the 20 cents per liter subsidy introduced by the government due to the crisis caused by the war in Ukraine was in force.
Therefore, we would have to go back to the end of July last year to find a higher level for the price per liter of this fuel, taking into account the executive bonus valid until the end of 2022. This price level for gasoline, after recording an increase of 8.91% since the beginning of July, when this new upward spiral in fuel prices began, has brought it to a historic maximum at the beginning of the school year
The average diesel price also recorded an increase of 0.73% for ten consecutive weeks, reaching 1.634 euros per liter, a level not reached since mid-February and an increase since the beginning of July: it stands at 13.55% .
With these new increases, the price of both fuels consolidates well above the level at which it was before the outbreak of the war in Ukraine due to the Russian invasion that began on February 24, 2022, and in the case of diesel, it was already at 1,479 euros each liters, for petrol 1,594 euros per liter. However, both fuels are still a long way from their highs around a year ago, when petrol reached 2,141 euros and diesel 2.1 euros in July.
This means that the price of diesel has been lower than the price of petrol for 30 weeks in a row. It thus remains in the usual situation before the Russian invasion of Ukraine, which resulted in the price of diesel being continuously more expensive than the price of gasoline from August 2022 until mid-February this year, when this dynamic was broken.
Refueling is up to 10 euros more expensive than in 2022
With these prices, filling an average 55 liter tank cost around 95.42 euros, 10.28 euros more than the 85.14 euros in the same period in 2022, including the one-year discount of 20 cents per liter. Filling up a diesel now costs around 89.87 euros, compared to the 93.77 euros it cost at this time last year, i.e. 3.90 euros cheaper.
With this level, the price of unleaded 95 gasoline in Spain remains below the European Union average, which is 1,831 euros per liter, and the Eurozone, with an average price of 1,906 euros. The price of diesel in Spain is also below the EU average, which is 1,753 euros, and the Eurozone, where the price is 1,805 euros.
