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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