Friday, 22 September 2023 07:15 GMT

Spain's gasoline costs are skyrocketing

(MENAFN) Fuel costs in Spain risen tremendously this week, undermining government efforts to compensate drivers, according to the daily La Vanguarda on Thursday.

Premium 95-octane unleaded gasoline (Eurosuper 95) now jumps to €1.968 a liter on average in Spain, representing a 1.44 percent weekly rise, according to the publication, which cited this week's figures from the European Union Oil Bulletin. A liter of gasoline is 48 percent more costly year on year, while diesel fuel is 56 percent more expensive.

In the meantime, the average cost of 95-octane unleaded gasoline in Europe rose to €2.09 a liter on Thursday, June 2nd, as per Fuelo, Europe's largest online petrol station map.

The Spanish government implemented a 20-cent-per-liter subsidy in April to compensate drivers for increased fuel costs, but according to La Vanguarda, the price hike has wiped away about three-quarters of the discount for gasoline.

According to La Vanguarda, the price of unleaded 95-octane gasoline in Spain remains cheaper than the Eurozone average, owing to a reduced tax load on automobile fuels in Spain compared to most European nations.


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