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Date Published: 05/08/2022
ARCHIVED - Murcia is the cheapest region in Spain for petrol and diesel
Fuel prices have dropped by 10% in the last month, and experts forecast further decreases
Fuel prices in Spain have given us a slight reprieve of late, having fallen by around 10% since reaching record highs last June, when they hit an all-time high of 2.125 euros for a litre of 95 petrol and 2.087 euros for a litre of diesel A in the Region of Murcia.
The recent drop in prices has lasted for almost a month now, contrary to predictions earlier this summer that they would top 3 euros/litre, and it looks like this decrease will continue for the foreseeable future. Even so, the current cost of petrol is still exorbitant compared to a year ago – on average 1.386 euros/litre for petrol and 1.230 euros/litre for diesel.
The latest study on fuel prices in Spain, published this Thursday by the Ministry of Ecological Transition, places the Region of Murcia as the cheapest Autonomous Region in the whole country to fill up with petrol or diesel.
According to the data, the average price of fuel at petrol stations in the Region of Murcia is currently 1.864 euros for a litre of 95 petrol and 1.854 for a litre of diesel A.
For the month of July, the average price of fuels in Murcia was 1.984 euros/litre for petrol and 1.947 euros/litre of diesel, compared to 2.007 and 1.971 euros, respectively, for Spain as a whole.
This doesn’t count any extra savings which drivers can make with the government’s 20 cents per litre bonus, which has been in force since April 1.
Pedro Díaz, president of the Regional Federation of Transport Organisations and Companies of Murcia (FROET), has praised the good news: “the price of fuel has fallen by around 10% and, just as when it rises, this fall is reflected in the profit and loss accounts” but he lamented that “it is still nothing like the price we had a year ago at this time”.
The haulage boss is confident that the price of fuel has already peaked, and will only continue to descend.
“The logical thing is that this downward trend will continue in the long term,” he said, but admitted that at the moment it seems absurd to try to understand the behaviour of the fuel market. “Just as we didn’t really understand what was going on when the price of diesel went up like that, there is no clear indicator now to justify this downward dynamic.
“A barrel of oil is at a stable price, the distillation of its products should still go down further, but it is really impossible to foresee right now. The situation is very volatile and does not seem to act under the traditional logic of supply and demand.”
Basically, it’s anybody’s guess.
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