The price of fuel drops with the start of the August holidays

MADRIDThe tonic with which the summer started continues. The average price of diesel and petrol has fallen, again, this week and thus starts the month of August below two euros per liter – not including the subsidy of 20 cents per liter, which still makes it cheaper month-. For the first time since the beginning of June, both fuels dropped from the two-euro quota last week, a trend that, now, in the middle of the holiday period, continues.

According to the data of Oil Bulletin of the European Union, the average price of a liter of petrol this week was 1.902 euros, after registering a drop of 2.66% compared to seven days ago, when it marked a price of 1.954 euros per litre. In the case of diesel, the average price per liter was 1.893 euros per litre, after recording a 2% drop compared to the previous week, when it was 1.933.

To these prices, the discount of 20 cents per liter should be applied – and those that can be applied by the oil companies on their own – which was approved by the Spanish government to combat the escalation of fuel prices and which will be in force until December this year, after Pedro Sánchez’s executive extended the shock plan for the war in Ukraine. The Oil Bulletin of the European Union it prepares the average amount with data from more than 11,400 service stations throughout the State and includes taxes.

Thus, in the case of diesel, when applying the reduction of 20 cents per litre, its amount is now 1,693 euros, while petrol would remain at 1,754 euros per litre. The purpose of the bonus is to mitigate the historic increase that both fuels began to register as a result of the war in Ukraine and which has led to record unusual figures. The price of the two fuels has shot up by 35% in the case of gasoline and almost 50% in the case of diesel compared to a year ago, without taking into account the subsidy.

These figures are registered in an environment of high crude oil prices, due to the context marked by the war. However, the Brent barrel, a reference in Europe, has fallen again in price this week and was trading below 100 dollars (97) on Thursday. It should be borne in mind, however, that the price of fuel depends on many factors, such as its price regardless of oil, the evolution of crude oil, the cost of the raw material, taxes and margins. Thus, the price of crude oil is not directly transferred to the prices that consumers pay for gasoline or diesel, but falls with a certain delay.

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