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As the sunny weather tempts more people to hit the road and head off for the weekend, fuel prices in Spain have ended their six-week streak of declines and begun to inch upwards again.

 

According to the latest EU Petroleum Bulletin, the average price of diesel rose by 0.07% this week, bringing it to €1.365 per litre. Petrol followed a similar trend, increasing for the second consecutive week, this time by 0.2%, reaching an average of €1.458 per litre.

 

It’s a pretty noticeable shift after months of downward movement that had seen petrol prices fall by nearly 9% and diesel by just over 9% since the summer. While both fuels remain significantly cheaper than their July 2022 peaks, when petrol shot up to €2.141 and diesel to €2.10, the current trend suggests those savings might not last much longer.

 

Interestingly, diesel has now been cheaper than petrol for 117 consecutive weeks, returning to the pre-Ukraine war costs. Between August 2022 and early 2023, diesel had temporarily overtaken petrol in price due to geopolitical instability.

 

Several factors influence fuel pricing in Spain, including international oil trends, taxes, transportation costs and profit margins.

 

For now though, Spain remains one of the cheapest places to fill up in Europe. The average price for 95-octane unleaded petrol is still below the EU average of €1.609 and the eurozone average of €1.66. Diesel is also more affordable in Spain compared to the EU average of €1.488 and the eurozone's €1.515.

 

Having said all that, with prices nudging upward and holiday travel looming, drivers may want to keep a closer eye on the fuel gauge this season.

 

 

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