The worth of gasoline falls for the sixth consecutive week and hits its lowest since September 2021 | Economy | EUROtoday

The surprising assault by the United States on Venezuela has not triggered both the worldwide worth of oil or the value of gasoline in Spain. At least for now. The up to date information from the European Union Petroleum Bulletin, made public this morning by the European Commission, present how the common worth per liter of 95 octane gasoline stood at 1.43 euros within the first week of January, which represented the sixth consecutive week during which it has fallen and the bottom degree since September 2021.

In the case of diesel, probably the most consumed gasoline in Spain, since it’s utilized by two out of each three automobiles registered in Spain, the value stood at 1.38 euros per liter, which additionally represented the sixth consecutive week of lower and the bottom fee since June 2025. The discount in the price of each fuels is sweet information for shoppers’ pockets, since refueling a median 50-liter tank prices within the first week of January 2026 5 euros lower than 12 months in the past, within the case of 95 octane gasoline, and three euros much less within the case of diesel. A minimal reduction in the course of an inflationary spiral that’s about to finish 4 years after the start of Russia’s invasion of Ukraine.

The dangerous information for drivers of diesel automobiles is that the gasoline worth benefit they historically had over gasoline automobiles, which offset the upper price of acquisition and repairs, has been evaporating in current quarters. If in May 2024, a liter of gasoline price on common 15 euro cents multiple liter of gasoline, that distinction has narrowed to 5 euro cents within the first week of January. Inés Cardenal, director of Legal Affairs of the Spanish Fuel Industry (AICE), which brings collectively the principle corporations energetic in Spain (Repsol, Moeve, BP, Galp, Gunvor or Saras Energía), justifies the biggest improve within the worth of diesel because of the intensification of sanctions in opposition to Russia since 2022. “It is a large producer of refined diesel, the fuel most consumed in winter in Europe, and that has continued to put pressure on the market for almost four years. due to the mismatch between supply and demand,” he factors out.

In reality, he factors out that historically the worldwide worth of diesel is normally costlier than that of gasoline, particularly in winter, however having a decrease tax burden (10 cents much less per liter than gasoline) in Spain, causes the ultimate worth on the pump to be decrease. A fiscal hole that will have its days numbered if the Executive meets the deadline set by Brussels to equate the taxation of each fuels earlier than subsequent January 31. If the reform is delayed, Cardenal warns that the Government can be compelled to take action as soon as the European directive is authorized (Brussels units a minimal and it’s the States that determine to lift the taxes) that seeks to make sure that the taxes on the consumption of gasoline and diesel are equal and linked to environmental standards.

In the historic sequence of the EU Oil Bulletin, protecting the 21 years since 2005, there have solely been two episodes during which the value of diesel has exceeded that of gasoline. The first occurred in 2008. In the 18 months between January 2007 and July 2008, the value of a barrel of Brent, a reference in Europe, went from 55 to 146 {dollars} and that had a direct influence on the value of gasoline. In that very same interval, a liter of 95 octane gasoline rose by 33%, going from 0.96 to 1.27 euros, whereas diesel rose by 47.5% to 1.39 euros.

The second episode during which diesel has been costlier than gasoline occurred in 2022, coinciding with Russia’s invasion of Ukraine. The first overtaking The worth improve occurred within the final week of March of that yr, during which the value of a liter of diesel reached 1.83 euros in comparison with 1.81 euros for gasoline. That first part solely lasted six weeks, however the scenario was repeated from mid-August, inflicting shopping for a liter of diesel in Spain to be costlier for 26 weeks. 2022 additionally broke one other milestone: the value of a liter of diesel exceeded two euros for the primary time in historical past.