The average price of fuel in Spain is rising again this week in an uncontrolled manner due to the escalation of the conflict in the Middle East, which has caused the cost of oil to increase due to the closure of the Strait of Hormuz. For its part, the average price of a liter of diesel has risen to 1,645 euros, so diesel it is paid 14.1% more expensive than last weekwhile gasoline has reached 1,600 euros per liter, with an increase of 7.7% compared to the last week.
The data on the average price of fuel, collected by the Petroleum Bulletin of the European Union (EU), shows the upward trend in the price of gasoline and diesel that we have been seeing in recent days with the changes in the daily price derived from the war in Iran. Fuels are reaching prices that have not been seen since March 2022, in the middle of the war in Ukraine after the invasion by Russia.
This is the eighth consecutive week of increases, in which the ‘surpass’ of diesel with respect to gasoline is also confirmed, something that has not been seen since the outbreak of the conflict in Ukraine. The blockade in the Strait of Hormuz is changing the price of fuel so much that it has even led to the price of a barrel of Brent now above $100.
Filling a tank of gasoline already costs 88 euros
The average price of gasoline (super 95) has stood at 1,600 euros per liter, which represents an increase of 7.7% compared to last week, when it stood at 1,486 euros. With this enormous increase, filling an average 55-liter tank of gasoline now costs approximately 88 euros, which is 3.25 euros more than a year ago, when it cost 84.75 euros.
The average price may vary depending on the province or service station where the refueling is carried out. In the electronic headquarters of the Ministry of Industry and Tourism, in the section “fuel prices at Spanish gas stations”, you can check every day at what price fuel is sold at each gas station in Spain.
The cheapest station to refuel with gasoline in Spain is the GASAMP station, which is located at Calle Orleans, 2, in Amposta (Tarragona), where the price is €1,329/L. In the next place is the Soc. Coop gas station. And. Jesús del Gran Poder, with a price of 1,336, which is located on Avenida Constitucion, S/N, in Noalejo (Jaén).
Filling the diesel tank costs 79.25 euros
The average price of diesel (diesel A) has reached 1.645 euros per liter this week, which represents an increase of 14.1% compared to the 1.441 euros registered the previous week. With these prices, filling an average 55-liter tank of diesel costs approximately 90.47 euros, which is 9.46 euros more than at the same time last year, when the cost reached 81.01 euros.
The cheapest gas station to refuel with diesel this week is the UTE Estación de Murcia (1,019 euros), located on Bolos Street number 4, in Murcia capital. The next option to refuel that has a lower cost is the one at the Cartagena Bus Station, on Avenida Trovero Marin, 3, where the price is 1,075 euros per liter, in Cartagena (Murcia).
Difference between fuels from Spain and Europe
Although prices have risen in recent weeks, Spain continues to have fuel at lower prices compared to the European average. At current levels, a liter of gasoline costs on average 1,774 euros in the European Union and 1,835 euros in the eurozone, while here it is below those figures. In the case of diesel, the price in Spain is also still below the European average, established at 1,861 euros per liter in the EU as a whole, and the 1,893 euros reflected in the euro zone.
The differences are mainly motivated because in Spain taxes on fuel and logistics costs are lower compared to other EU countries.
How the conflict in the Middle East affects the price of gasoline and diesel
The escalation of the conflict in the Middle East is generating tension in energy markets, especially after the closure of the Strait of Hormuz, one of the key routes for global oil transportation. This situation causes an increase in the price of crude oil in international markets and ends up being passed on to the cost of fuel in importing countries such as Spain.
When oil becomes more expensive, gas stations progressively adjust their prices, which translates into greater expenses for drivers. For this reason, conflicts in energy-producing areas usually cause increases in gasoline and diesel prices, directly affecting consumers’ pockets.