Mission Statement: to assist the integration of foreign residents living in Spain
By Marc Menendez-Roche •
Updated: 01 Nov 2024 • 15:19 • 1 minute read
Brace yourself! Spain’s petrol and diesel prices surge for the third time. Learn about the price trends, EU comparisons, and what’s driving the costs.
Credit: Shutterstock, ako photography
Spain’s petrol prices are revving up once again, marking the third consecutive rise after a short-lived summer slump. Just as people thought they’d seen the back of soaring costs, the average price per litre now stands at a lofty €1.507 for petrol and €1.3925 for diesel. This latest hike makes it the priciest fuel we’ve seen since mid-September, according to fresh data from the European Union’s Petroleum Bulletin.
For the average 55-litre petrol tank, the bill now comes in at a hefty €82.88, though a glimmer of relief remains compared to last year. This time in 2023, the cost would’ve set you back a whopping €91.41! Diesel drivers fare a bit better, with a tank costing €76.60 still €14.37 less than a year ago when prices peaked at €90.97.
Despite the uptick, Spanish and expat motorists are still forking out less than their EU neighbours. Average petrol prices across the bloc sit at a steeper €1.643 per litre, with Eurozone rates even higher at €1.695. Diesel follows the same trend, costing €1.527 across the EU and €1.551 in the Eurozone, putting Spain firmly among Europe’s cheapest for fuel.
Even with the recent rise, we’re far from the sky-high prices sparked by Russia’s invasion of Ukraine. In early 2022, petrol was perched at €1.591 and diesel at €1.479 per litre. And let’s not forget last July’s jaw-dropping records a head-spinning €2.141 for petrol and €2.1 for diesel.
The price tag on fuel is driven by everything; crude oil rates, taxes, and raw material costs to logistics and margins. Right now, diesel’s been playing second fiddle to petrol for 87 weeks running.
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Written by
Marc Menendez-Roche
Marc is a writer, teacher, and language enthusiast with a passion for making complex topics simple and accessible.
With a background in business and legal communication and an interest in educational neuroscience, Marc has spent over a decade teaching and writing.
Now, as part of the team at Euro Weekly News, Marc enjoys diving into entertaining topics and stories that matter to the community.
When he’s not writing, Marc loves practising martial arts, playing football, cooking up a storm in the kitchen, or spending quality time with friends and family, but above all, Marc enjoys spending time with his son, Macson.
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