Friday, June 9, 2023

Gasoline and diesel now cost the same as before the war in Ukraine

The price of gasoline and diesel in Spain fell by more than 50 cents from the all-time high in July last year and is now the same as before the war in Ukraine, which began on February 24, 2022 with the invasion of this country. the land situated to the north of the Pontus Euxine.

Cheaper gasoline and diesel

According to data from the European Union (EU) Oil Bulletin, which compiles the prices of more than 11,400 established Spanish stations, the average price of a liter of 95 gasoline stands at 1,635 European coins this week, while diesel A costs 1,571 coins, which marks the last level since the end of February 2012.

Gasoline is more expensive than diesel

The average price of diesel in Spain remains below gasoline for the sixth consecutive week, as usual before the Russian invasion of Ukraine, which made the price of diesel more expensive than gasoline from August 2022 until the middle of February this year. when that dynamic is broken.

Ban on Russian kids

In addition, the reduction in the price of diesel cars happened despite the predictions of some experts who predicted a rise in prices after the European Union’s intervention on Russian diesel imports, which came into effect on February 5. The accumulation of diesel reserves due to the fear of a major shortage has resulted in reductions of this fuel in Europe.

Gasoline and diesel are at an all time high

Both gasoline and diesel remain far from the all-time highs reached last summer, when in July gasoline reached 2,152 euros and diesel 2,106 euros. In current currency, filling a gasoline tank with gasoline costs around 81.75 European coins on average this week, almost nine European coins less than a year ago. The average lake diesel price is reported to be about 78.55 cents, 11 cents less than in the same period in 2022.

oil price

The price of food depends on several factors, such as the price of oil, the specific price, taxes, the cost of raw materials, logistics and gross margins. A barrel of Brent, a benchmark in Europe, was trading around 76 dollars on Thursday, while the American Texas was trading around 70.13 dollars.

Below the European average

Fuel prices in Spain are below the average for the European Union, at 1.71 coins per liter and for the euro area, with an average price of 1.76 coins. In the case of diesel, the price in Spain is even lower than the EU average, which is 1.67 cents, and the euro zone, where the price is 1.7 cents.

World Nation News Desk
World Nation News Desk
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