Fuel Prices Stabilize in Spain Amid Ongoing Market Fluctuations
Gasoline prices stabilize while diesel sees a slight decline, remaining below EU averages.
In Spain, the average price of 95-octane gasoline has stabilized at 1.458 euros per liter, remaining unchanged from the previous week.
Diesel prices, however, have seen a decrease of 0.22%, bringing the average cost to 1.361 euros per liter, according to the latest data from the European Union's Petroleum Bulletin, which includes taxes.
This recent data indicates that gasoline prices are approximately 11% lower than they were a year ago, while diesel is down 7.7% over the same period.
Furthermore, the current price for gasoline is about 8.4% lower than at the onset of the conflict in Ukraine in February 2022, with diesel prices reflecting a 7.9% decrease since that time.
Filling a 55-liter gasoline tank now costs around 80.19 euros, while a full tank of diesel amounts to about 74.85 euros.
These figures represent average prices and may vary based on the specific gas station or any customer loyalty discounts that may apply.
In a broader context, fuel prices in Spain remain below the average of the Eurozone, where the average price for gasoline is 1.659 euros per liter and diesel stands at 1.512 euros.
Comparatively, the average gasoline price across the European Union is 1.606 euros per liter, while diesel costs about 1.482 euros on average.
The price of crude oil also influences fuel prices.
As of Thursday, the price of Brent crude, a benchmark for European oil, increased by 0.4% to 65.15 dollars per barrel.
Brent prices have been on a downward trend since reaching nearly 80 euros per barrel in January.
Similarly, West Texas Intermediate crude rose by 0.3% to 63 dollars per barrel.
This type of oil has also been gradually decreasing over the last six months, falling below 75 dollars per barrel, where it peaked in mid-January.
It is important to note that fuel prices are determined by various factors including specific market quotations, changes in crude oil prices, taxation, logistics costs, and profit margins.
Additionally, fluctuations in crude oil prices do not immediately affect fuel prices, as adjustments occur with a time lag.
Diesel prices, however, have seen a decrease of 0.22%, bringing the average cost to 1.361 euros per liter, according to the latest data from the European Union's Petroleum Bulletin, which includes taxes.
This recent data indicates that gasoline prices are approximately 11% lower than they were a year ago, while diesel is down 7.7% over the same period.
Furthermore, the current price for gasoline is about 8.4% lower than at the onset of the conflict in Ukraine in February 2022, with diesel prices reflecting a 7.9% decrease since that time.
Filling a 55-liter gasoline tank now costs around 80.19 euros, while a full tank of diesel amounts to about 74.85 euros.
These figures represent average prices and may vary based on the specific gas station or any customer loyalty discounts that may apply.
In a broader context, fuel prices in Spain remain below the average of the Eurozone, where the average price for gasoline is 1.659 euros per liter and diesel stands at 1.512 euros.
Comparatively, the average gasoline price across the European Union is 1.606 euros per liter, while diesel costs about 1.482 euros on average.
The price of crude oil also influences fuel prices.
As of Thursday, the price of Brent crude, a benchmark for European oil, increased by 0.4% to 65.15 dollars per barrel.
Brent prices have been on a downward trend since reaching nearly 80 euros per barrel in January.
Similarly, West Texas Intermediate crude rose by 0.3% to 63 dollars per barrel.
This type of oil has also been gradually decreasing over the last six months, falling below 75 dollars per barrel, where it peaked in mid-January.
It is important to note that fuel prices are determined by various factors including specific market quotations, changes in crude oil prices, taxation, logistics costs, and profit margins.
Additionally, fluctuations in crude oil prices do not immediately affect fuel prices, as adjustments occur with a time lag.
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