Gasoline, in record, eats 75% of the bonus

It increases more than 1.4% in just one week, to close to two euros per liter, while diesel advances to 1.85 euros

Jose Maria Waiter

The average price of gasoline in Spain has continued this week with its climb and has reached a new historical maximum, rising to 1,968 euros per liter, after registering a rise of 1.44% compared to seven days ago, according to data of the European Union Oil Bulletin collected by Europa Press.

That average amount includes taxes, but does not reflect the discount that came into force since last April 1 of at least 20 cents per liter, since there are higher discounts, depending on the oil company.

Counting on this subsidy, the price of a liter of gasoline, after chaining its sixth consecutive rise since Easter, would be barely five cents cheaper than in the last week of March, before the discount began to be applied, with which the increase in prices recorded by this fuel since then has already absorbed 75% of the aid.

In the case of diesel, the average price per liter, unlike gasoline, has become cheaper again this week, for the third week in a row, with a decrease of 0.8%, to stand at 1,852 euros.

In this way, despite this high price level for diesel, this fuel has recorded a more favorable evolution since the beginning of March than that of gasoline. Thus, when applying the reduction of 20 cents per liter, its amount would be 18.5 cents less than at the end of March.

Compared to a year ago, the average price of a liter of gasoline has increased by 48.4%, while in the case of diesel it is 56.5% more expensive, although without taking into account the discount currently in force.

These prices are recorded in an environment of constant increases in crude oil in the current context, marked by the invasion of Ukraine by Russia. Thus, the barrel of Brent, a reference in Europe, was trading this Thursday above 113 dollars, while the American Texas was exchanged at just over 112.5 dollars.

The price of fuel depends on multiple factors, such as its specific price (independent of oil), the evolution of crude oil, taxes, the cost of raw materials and logistics, and gross margins. In this way, the evolution in the price of crude oil is not transferred directly to gasoline prices, but rather with a time lag.

The new increase in fuel comes in the midst of the study being carried out by the Government to extend the package of anti-crisis measures launched on April 1 and which includes, among many other measures, the bonus of 0.20 euros per liter refueled by the drivers.

The President of the Government, Pedro Sánchez, announced before his parliamentary group that the Executive will extend the measures for another three months, starting on June 30, with a decree that, according to Moncloa, will maintain the "substantial" of the current one. Everything seems to indicate that the bonus will not change, regardless of the consumer's income level during the summer.

In this sense, the Government spokesperson and Minister of Territorial Policy, Isabel Rodríguez, has clarified this Thursday that they will "reformulate" the aid of the anti-crisis decree to alleviate the effects of the war due to the invasion of Ukraine, which will be extended for three months . She has explained that, in this way, they will give the appropriate answers at all times.

This has been transferred by the spokeswoman in statements to the media from Jerez after the Minister of Consumption, Alberto Garzón, alluded to the fact that measures, such as the fuel bonus, reach those who "truly" need it and not the whole of the population.

On this, the Government spokesperson has indicated that "now when that decree comes into force, what the Government will do is reformulate this aid to give the appropriate responses at the right time."

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