Pain felt over pump prices

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THE ADVERTISED price of fuel has doubled in two years in Spain, stoking the general rise in the cost of goods and services.

Back in April 2020 some low cost retailers were selling petrol and diesel for €1 or less per litre, but now even these budget operators are posting prices approaching €2.

The government’s 20 cents discount at the pumps is taking away some of the pain for motorists but the general increase is putting a strain on the finances of many households and businesses.

The average cost for 95 octane petrol in Spain was €2.048 per litre at the end of last week, which was above the European average.

It is the first time ever that this benchmark has been above €2, with the average price of diesel at €1.916, according to European Commission’s Oil Bulletin, although the government subsidy brings the real cost to motorists down to €1.848 and €1.716 respectively.

The figures reveal that the continuing hikes in the price of fuel have eaten away the whole of the discount, with prices now more than 20 cents higher than when the government introduced the measure earlier this year.

They announced at the beginning of June that they would extend the measure for another three months, meaning it would be in place until the end of September.

Read more in this week’s print edition or go to e-paper

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