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Fuel prices in Spain are starting to creep upwards again, with diesel recording a small increase this week and petrol continuing its steady climb for a fourth consecutive week.

 

According to the latest figures published by the EU Oil Bulletin, the average price of diesel in Spain has risen slightly to €1.685 per litre after two weeks of falling prices.

 

Although the increase is tiny, it marks a pause in the recent downward trend drivers had been enjoying at the pumps.

 

Petrol prices have risen more noticeably, climbing by 1.35% over the past week to reach an average of €1.568 per litre.

 

Even with the recent increases, both fuels remain well below the record highs seen during the energy crisis in summer 2022, when petrol surged past €2.14 per litre and diesel topped €2.10.

 

The current prices are also still lower than the levels reached earlier this year before the Spanish government introduced emergency tax cuts aimed at softening the impact of global oil market tensions linked to the conflict involving Iran and disruption fears around the Strait of Hormuz.

 

Back in March, the government approved temporary measures including lower VAT on fuel and reductions to hydrocarbon taxes in an attempt to stop prices spiralling further.

 

Those measures helped stabilise prices for several weeks, particularly for diesel, although the relief now appears to be slowing.

 

For drivers, the difference is still being felt.

 

Filling a typical 55-litre diesel car now costs around €92.67, roughly €17 more than this time last year.

Meanwhile, a full petrol tank currently averages around €86.24, approximately €6 more expensive than a year ago.

 

Fuel prices in Spain are influenced by a combination of factors including crude oil prices, taxes, transport and logistics costs, exchange rates and service station margins. Changes in global oil prices also tend to take time before fully filtering through to forecourts.