The price of gasoline drops for the second consecutive week but accumulates an increase of 8.9% res
He average fuel price has continued downwards this week, after the upward spiral registered in the first four months of 2024, and has cheaper up to 1.24%.
Specifically, the average price per liter of gasoline has chained its second consecutive fall, with a 0.83% decrease compared to a week ago, to be in the 1,671 euros, its lowest level since the second week of April, according to the latest data from the European Union Oil Bulletin collected by Europa Press.
Meanwhile, the average price of liter of diesel has fallen again for the fourth week in a row and has become cheaper 1.24%, to go down to the 1,512 euros, thus falling back to the levels of the last week of January.
Despite these weekly falls, so far this year the price of a liter of gasoline has accumulated a 8.9% increase in price, while that of diesel has risen 1.2%.
The average price of both fuels started 2024 registering its first increases in three months, after accumulating one decline after another since the end of September that led him to say goodbye to last year installed at minimum levels of the year after adding a reduction of almost 15% in the case of gasoline, and more than 13% for diesel.
At current prices, fill out a 55 liter medium tank gasoline has a cost of about 91.9 euros, 3.96 euros more than on the same dates last year, when it amounted to about 87.94 euros and the discount of 20 cents per liter that was in force for much of 2022 no longer existed.
For diesel vehicles, filling an average tank (55 liters) currently represents an outlay of 83.16 euros, about 4.29 euros more expensive than in the same week in 2023, at which time the price was 78.87 euros.
In context
The average prices per liter of gasoline and diesel remain this way for another week above the levels I was at before the outbreak of the Russian invasion of Ukraine, which began on February 24, 2022, when it was 1,592 euros and 1,479 euros per liter, respectively.
However, both fuels continue far from the maximums recorded in the summer of 2022, in July, when gasoline reached 2,141 euros and diesel 2.1 euros.
Likewise, the diesel is now 64 weeks below the price of gasoline. 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 that of gasoline continuously from August 2022 until mid-February 2023, when the dynamic was broken.
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 offset.
Spain, below the European average
With these levels, the price of gasoline unleaded of 95 remains in Spain below the average of the European Union, located in 1,783 euros per liter, and the eurozone, with an average price of 1,837 euros.
In the case of diesel, The price in Spain is also lower than the EU average, which is 1,634 euros, and the euro zone, where it sets a price of 1,656 euros.
