Believe it or not, prices at the pumps have come down with three consecutive price drops this year.

Normally, drivers are squeezed by higher prices when filling up at Christmas but 95-octane gasoline, however stood at €1.45/litre yesterday, which is 1.3% lower than last week.

Diesel also saw its fourth drop, falling 1.7% compared to a week ago, standing at €1.39/litre, according to the EU Weekly Oil Bulletin.

Fear not because they will rise again to match an increase in the barrel of Brent, which had hovered at around 61.80 euros, thanks to geopolitical issues such as… Mr Trump and Mr Putin, as well as a higher demand.

To find lower gasoline prices at the pump belonging to this week you have to go back to February, 2021, as the war in Ukraine broke out.

As pointed out earlier in the article, they have been consecutive drops in prices, which have totalled nearly a five-percent reduction and the three percent in diesel. Taking an average car tank, that’s a four euro saving filling up with gasoline and two euros less for diesel. OK, keep your daytime job because you won’t be retiring on that.

And then we come to tax on fuel on diesel… Spain has to bring its tax rate on diesel into line with EU regulations, matching the tax on it to that levied on gasoline. This must be done in 2026 and will put an extra 10 cents on the litre on diesel, making it about the same price as gasoline at the pumps.

Hey! Have you forgotten that in July, 2022 both gasoline and diesel were over 2.10 euros a litre? So no sulking! in Spain it’s still cheaper than the average price within the Euro Zone, which is 1.64 per litre on gasoline and 1.54 euros on diesel.

PS: Did you miss us over Christmas? 😉

(News: Spain)

Keywords: Diesel, Gasoline, Tax, Fuel, Pumps, Brent Barrel, Euro Zone Average, Invasion of Ukraine

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