Drivers Urged to Fill Tanks Ahead of Price Hike
Petrol and diesel prices are rising in Spain. State aid expires September 30th. Fill up before Monday.
English · Original discussion in Spanish · Published
Petrol and diesel prices in Spain are trending upwards, and the state aid intended to reduce these costs expires on September 30th.
The cost of fuel for our cars is becoming increasingly expensive. If before we could fill up with a fixed amount and be satisfied, now we get less liters for the same money. The situation in Spain involves very high prices and, worse yet, a clear tendency to continue rising.
## The Perfect Storm in the Oil Market
Several factors have aligned to cause this. On one side, the conflict in **the Middle East** has complicated the transport of oil and its derivatives, especially through the **Strait of Hormuz**. This means less product reaches the market. Added to this is that **Russia** is imposing limits on its diesel exports. To top it off, some **refineries** have experienced problems, including attacks, which have halted production. With less supply and sustained demand, the price has no choice but to rise.
## The Impact on Your Wallet
Today, **September 21st**, the average price of petrol stands at **€1.922 per liter**. Looking at diesel, the average price is **€1.927 per liter**. But these are averages. You can find it cheaper, at **€1.359/liter** for petrol, or it can spike up to **€2.399/liter**.
Looking back, in the last quarter alone, from late June until today, 95 octane petrol has risen by about **€0.48 per liter**. That is nearly a **33%** increase. These are not official figures, but anyone looking at their old receipts can verify it. If this trend continues, and given that the oil outlook is not improving, the wisest course of action is to take precautions.
## The End of State Aid
Until now, we had a small reprieve. The State offered aid of **5 cents per liter** for petrol and **20 cents** for diesel. However, this aid is only valid until **September 30th**. Starting **October 1st**, that small discount will vanish, and prices, which are already high, could rise even further. The Government is studying whether to extend these aids or replace them with other measures, but as of today, nothing has been decided.
The cost of fuel for our cars is becoming increasingly expensive. If before we could fill up with a fixed amount and be satisfied, now we get less liters for the same money. The situation in Spain involves very high prices and, worse yet, a clear tendency to continue rising.
## The Perfect Storm in the Oil Market
Several factors have aligned to cause this. On one side, the conflict in **the Middle East** has complicated the transport of oil and its derivatives, especially through the **Strait of Hormuz**. This means less product reaches the market. Added to this is that **Russia** is imposing limits on its diesel exports. To top it off, some **refineries** have experienced problems, including attacks, which have halted production. With less supply and sustained demand, the price has no choice but to rise.
## The Impact on Your Wallet
Today, **September 21st**, the average price of petrol stands at **€1.922 per liter**. Looking at diesel, the average price is **€1.927 per liter**. But these are averages. You can find it cheaper, at **€1.359/liter** for petrol, or it can spike up to **€2.399/liter**.
Looking back, in the last quarter alone, from late June until today, 95 octane petrol has risen by about **€0.48 per liter**. That is nearly a **33%** increase. These are not official figures, but anyone looking at their old receipts can verify it. If this trend continues, and given that the oil outlook is not improving, the wisest course of action is to take precautions.
## The End of State Aid
Until now, we had a small reprieve. The State offered aid of **5 cents per liter** for petrol and **20 cents** for diesel. However, this aid is only valid until **September 30th**. Starting **October 1st**, that small discount will vanish, and prices, which are already high, could rise even further. The Government is studying whether to extend these aids or replace them with other measures, but as of today, nothing has been decided.
Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (9 replies).
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