Are there early signs of relief for drivers’ wallets? After several weeks of fairly pronounced increases, fuel prices could begin to fall. In any case, today marks the first time since the fuel VAT reduction in mid-March that we see gasoline and diesel prices dip.
However, it is still early to speak of a downward trend. It could be just a mirage, just as the fragile temporary ceasefire in the conflict with Iran seems to hang by a thread.
Gasoline and diesel prices in Spain today
Looking at the fuels, Gasoline Unleaded 95 takes a small breather today, standing at 1.559 €/l (a drop of 0.8 cents). The Gasoline Unleaded 98 follows the same path and sits at 1.700 €/l with a drop of 0.8 cents.
For diesel vehicles, Diesel A offers a small respite with an average price of 1.884 €/l thanks to a decrease of 1.2 cents. As for the higher grade, Diesel A+, today it shows an average price of 1.975 €/l, with a decrease of 1.4 cents.
| FUEL | TODAY | YESTERDAY | MAX |
|---|---|---|---|
| Gasoline Unleaded 95 | 1,559 | 1,567 | 2,152 |
| Gasoline Unleaded 98 | 1,700 | 1,708 | 2,311 |
| Diesel A | 1,884 | 1,896 | 2,106 |
| Diesel A+ | 1,975 | 1,989 | 2,199 |
| Autogas/LPG | 0,992 | 0,987 | 1,058 |
It is worth noting that the average prices in the table refer to the Peninsula and the Balearic Islands, although as is often the case, fuel prices also vary between gas stations. The difference between refueling at an expensive or cheap station can exceed 15 cents per liter.
Beyond crude fluctuations, Spain’s price structure includes a fixed tax component (0.472 €/l on gasoline and 0.379 €/l on diesel). However, the tax impact is partially cushioned thanks to the application of a 10% VAT, the reduced rate that the Government maintains as a shield against the energy crisis triggered by the Iranian war.
Evolución de precios de la gasolina y el diésel
This pump-price dynamic remains closely linked to Brent crude’s quotation. Today it trades lower, around $96.34 per barrel, while the European currency stands at about $0.8550 per euro — a geopolitical context that ultimately shows up at our gas stations.
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Images | Pixabay, Kia
