Motorists in Spain are bracing for tougher times at the pump as petrol prices continue their upward trend, now in their 11th consecutive week of increases. With the national average for regular petrol climbing to €1.866 per litre as of September 17, and diesel reaching €1.834 per litre, many drivers are feeling the squeeze in their wallets.
The situation is made more pressing by the looming expiration of the government’s temporary fuel discount, set to end on September 30. This subsidy currently offers a 5 cent per litre reduction for petrol and a 20 cent discount for diesel, providing some relief from the escalating costs. Once this measure expires, industry estimates suggest that average diesel prices could surpass €2 per litre, with petrol prices nearing that threshold.
The root of these rising prices lies in the global oil market, where disruptions in the Middle East have led to increased crude oil prices. Spain, heavily dependent on imported crude, is particularly vulnerable to these fluctuations. As a result, the impact is being felt nationwide, with petrol prices exceeding €2 per litre at more than 150 service stations in Aragón alone.
Such price hikes highlight the importance for Spanish motorists to shop around and compare prices, as fuel costs can significantly differ between service stations. With household budgets under strain, these comparisons are becoming increasingly crucial.
As the situation develops, Spanish drivers will have to navigate these challenges, balancing their need for fuel against the rising costs and the impending end of government subsidies designed to ease the burden.