The price of gasoline rises again and begins to equalize with diesel

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For the second week in a row, Gasoline once again registers a rise in its price while diesel continues to fall, which is already reaching its third consecutive week, narrowing the gap between the two fuels to about 15 cents in favor of the latter. Specifically, the average price of a liter of gasoline has risen this week by 0.73%, to 1.784 euros, reaching its highest level since late Augustaccording to weekly data from the European Union Oil Bulletin.

In the case of diesel, which registered its third week of falls, the decrease of 1.22% makes its price go back to 1.939 euros per liter, its lowest level since the week of October 10. Despite these high prices, both fuels remain far from the highs they reached this summer, when in July gasoline reached 2,141 euros and diesel 2.1 euros.

In the same way, gasoline remains below the figures before the entry into force of the aid of 20 cents per liter approved by the Government at the end of March -1.818 euros per liter-, although in the case of diesel it continues to exceed that level -1.837 euros-.

The gap between diesel and gasoline drops to 15 cents

In this way, the average price of a liter of diesel in Spain is maintained at fourteenth consecutive week above the price of gasoline, with a gap that this week has been cut to just over 15 cents. This average amount of both fuels includes taxes, but does not reflect the discount that came into force since April 1 of at least 20 cents per liter, since there are higher discounts, depending on the oil company and customer promotions loyal.

Counting on that grant, the price of a liter of gasoline would be 1,584 euros, while that of diesel would be at 1,739 euros, in both cases clearly lower than those marked at the end of March, before the entry into force of the aid. The Government is reconsidering whether to keep this bonus focused on some sectors and not universally or eliminate it, given its high cost and its lack of progressivity.

More expensive than a year ago

Regarding the same week a year ago, collecting the grant, the price of a liter of gasoline is 4.7% more expensive than a year ago, while in the case of diesel the price is 25.4% higher. These figures are recorded in an environment of high crude oil prices in the current context, marked by the war in Ukraine. Thus, this Thursday the barrel of Brent, a reference in Europe, was trading at almost 92.4 dollars, while the American Texas was trading around 85 dollars.

The price of fuels 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. In addition, the evolution in the price of crude oil is not transferred directly to fuel prices, but rather with a time lag.

With these levels, the price of 95 unleaded gasoline remains in Spain below the European Union average, located at 1.792 euros per liter, and from the eurozone, with an average price of 1.849 euros. In the case of diesel, the price in Spain is lower than the EU average, which is 1.889 euros, although not with respect to that of the euro zone, with a price of 1.913 euros.

Source: lainformacion.com

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