January 25, 2021

Gasoline falls 2.81% and diesel oil 2.49% in the last week



Fuel prices have fallen again in the last week, although more smoothly than the previous week, and gasoline is 2.81% cheaper and diesel 2.49% in an environment of low oil prices in the markets due to the drop in demand derived from the measures imposed to stop the expansion of the Covid-19 coronavirus pandemic.

According to the data from the EU Oil Bulletin released on Thursday, these fuels link their fifth consecutive week of decreases in prices at the gates of a Holy Week that will be very different from that of other years and in which there will be no operation. going on vacation.

The average price of gasoline in the pump in Spain has been in the last week of 1,143 euros per liter and that of diesel fuel of 1,057 euros.

A very different situation to that experienced in the week in which last year the operation for the start of the Easter holidays was to begin, which in 2020 will not occur because the state of alarm against the Covid virus is in force. 19, which requires the confinement of the population and which only allows trips for essential services.

The price of gasoline at that time had risen by 1.24% and was chaining five consecutive weeks on the rise, until it sold for an average of 1,307 euros on the doorstep of the Easter holidays, while the price of diesel rose by 0, 3%, up to 1,232 euros, and added four weeks of growth.

At those prices, filling an average 55-liter gasoline tank that week cost around 72 euros and doing so with diesel at around 68 euros.

However, with the prices registered in the last week of the current year, filling an average 55-liter tank costs 62.86 euros, if it is done with gasoline, and 58.13 euros, if what is refueled is diesel.

Since 2020 began, gasoline has been reduced by 13.41% and diesel, by 15.24%.

95-octane gasoline is now 10.56% cheaper than a year ago and diesel, 13.93%.

Compared to a month ago, gasoline costs 11.60% less and diesel 11.18%.

The gap with the maximum prices that these fuels reached seven years ago continues to widen, and that of gasoline is 24.90% lower and that of diesel fuel, 26.85%.

The petrol and the diesel of automotive industry marked their record price the week of September 3, 2012, when they stood at 1,522 and 1,445 euros, respectively.

Although yesterday, Wednesday, Brent oil (the benchmark in Europe) fell 5.88% due to the persistent drop in demand, this morning the barrel for June delivery recovered ground in the London futures market, where it was trading at $ 27.35, 10.1% more than at the close of Wednesday.

However, fuel prices do not have a direct relationship with the price of a barrel of oil, but rather depend on those of gasoline and diesel in wholesale markets, all in dollars, according to the Spanish Association of Operators of Petroleum Products (AOP).

In the case of Spain, the reference markets are the Mediterranean and Northern Europe, markets that, apart from the price of crude oil, are influenced by the supply and demand for these products and the euro / dollar exchange rate .

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