Spain petrol down 8.24%, but a tank costs more

Spain’s average petrol price is down 8.24% in three weeks, but filling a 55-litre tank still costs €16.34 more than a year ago. Figures reported on 22 October put petrol at €1.780 a litre after a third weekly fall, while diesel averages €1.889. The figures come from the European Union’s Oil Bulletin and were reported by Europa Press; they are national averages, not prices for Mallorca.

Why petrol has fallen

Petrol dropped 0.5% this week, after 13 straight weekly rises from June to early October. The Spanish government raised its petrol tax discount from five to 20 cents a litre at the start of October.

Diesel’s discount has been 20 cents a litre since early September. Its price fell just 0.007% this week and is down 2.3% over three weeks.

Filling up still costs more

At the national average, a 55-litre petrol fill-up costs about €97.90, compared with €81.56 a year ago. The same amount of diesel costs about €103.89, up from €77.55.

The fuel discount is due to fall to 13 cents a litre in November and six cents in December. If prices rise by more than 15%, the rules provide for the 20-cent discount to return in either month.

Topics: Economy

Source: Europa Press / Mallorca.com