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Thursday, September 29, 2022

Petrol and diesel prices fell again, but the gap between them increased

The average price of registered fuel fell again during the past week, with a A decrease of around 2.3%, although the gap between diesel and gasoline continues to widen, It fell 2.28% again for the third week in a row to 1.708 euros, its lowest level since mid-April. whereas, Diesel falls less, 2%, which puts the price of this lubricant at 1,867 euros.The lowest level since the last week of August, according to data from the EU Oil Bulletin.

As such, both fuels are further away from the highs they reached this summer, when they were paid in July at 2.141 euros per liter of gasoline and 2.10 euros per liter of diesel. The average price of a liter of diesel is higher than that of petrol in Spain for the sixth consecutive weekwidening the gap 16 cents per liter, Fuel prices remain particularly high at this point in the year compared to recent years, despite the drop in prices recorded in recent weeks.

This average amount for both fuels includes taxes, but does not reflect the discount of at least 20 cents per liter from last April 1, because of the higher discounts based on promotions for the oil company and customers. Loyal. Based on this subsidy, a liter of petrol would cost EUR 1,508, while that of diesel would be EUR 1,667.In both cases – less than those marked at the end of March, – 1,818 euros for gasoline and 1,837 euros for diesel – before the aid entered into force.

Between 19% and 46% more expensive than a year ago

Compared to this week a year ago, The average price of a liter of petrol is 19% more expensivein the meantime Diesel becomes nearly 46% more expensive Irrespective of government bonus. With this, the cost of a liter of gasoline is 5% more expensive than it was a year ago, while in the case of diesel the price is 30% higher. These figures are recorded in an environment of high crude oil prices in the current context marked by the war in Ukraine. A reference barrel of Brent in Europe was trading today at approx. 91 dollarsWhereas the American Texas was exchanged for about $84.

The price of a fuel depends on many factors, such as its specific price (independent of oil), development of crude oil, taxes, cost of raw materials and logistics, and gross margin. Furthermore, crude oil price developments are not directly transferred to fuel prices, but over a time lag.

With respect to the EU average, the price of unleaded gasoline of 95% remains below this average price in Spain, which is located at 1,760 euros per liter, and in the eurozone with an average price of 1,833 euros. rather than, Diesel is more expensive in Spain than EU average price, which is 1,836 euros, but lower than the euro zone with a price of 1,874 euros. However, with a bonus of at least 20 cents a liter, both fuels will cost less than the European average in Spain.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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