The price of petrol and diesel oil has skyrocketed throughout Europe due to the appreciation of oil in the last year. Brent's benchmark price in the EU has increased by 53% this year, bringing fuel to historic peaks in most European countries. However, the increase has not been homogeneous and has affected some countries more than others. And among them is Spain, where the price of petrol and diesel has increased by 26.2% and 27.6% this year, above the EU average and above other neighbouring countries such as France, the Netherlands, Italy or Portugal.
The data from the EU Oil Bulletin, updated this morning, certify that the liter of petrol in Spain was sold at an average price of 1.513 euros and that of diesel at 1.385 euros in the week of 15 November. Increases of 26.2% for gasoline and 27.6% for diesel so far from 2021 are above the increases recorded in France (19.4% for gasoline and 21.2% for diesel), Italy (20.6% for gasoline and 21.8% for diesel), Portugal (20.4% for gasoline and 20.6% for diesel), Holland (23.5% and 27.4%) and even the EU average (25.5% and 26.1%). Spain's price rise is only below those recorded in Belgium (32.2% for petrol and 28.1% for diesel), Ireland (32.1% for petrol and 34.1% for diesel) and Germany for diesel (28.4%).
In this different transfer of prices to the pump there are two factors that play a decisive role: the taxes and the margins of the oil companies. The price rise or fall affects only the variable part of the price and in this case Spain is one of the countries most affected, since only 49% of the price of gasoline and 45% of diesel are taxes, compared with 53% or 48% for the EU average. The gap with Spain is even greater in Italy, with a tax burden of 60 per cent and 56 per cent for petrol and diesel; in France, where taxes account for 58 per cent and 56 per cent of the final price; in Portugal, with 56 per cent and 51 per cent; and in the Netherlands, with a tax burden of 59 per cent and 50 per cent, respectively.
Tje fucknmg I do nt like finishing anything so take shy luc4 and alb3rt0 stufkf /? Mannng I Don't know how to DRA... Http: / / t.co
— Bitchsoup Sat Jul 24 01:34:53 +0000 2021
Prices in Spain are close to historical peaks, reached on 3 September 2012, when the litre of gasoline was sold at 1.522 euros per litre and diesel at 1.444 euros per litre. In fact at that time it chained four years (between 2011 and 2014) at very high prices, above 1.3 euros per litre, as a result of the high oil prices that went up to $125. The big difference from today is that in those four years of high prices, the euro was changed to an average of $1.35, mitigating the impact of the rise in the international price, while currently changing to $1.20. This widespread increase in fuel prices has resulted in a litre of gasoline already above two euros in the Netherlands and diesel in excess of 1.9 euros in Sweden.
Despite this, Spain's prices remain among the lowest in the euro area.In the case of petrol, only five of the nine countries (Slovenia, Malta, Cyprus, Lithuania and Austria) are below Spanish tariffs, while in diesel only three Nations sell it cheaper than Spain (Estonia, Lithuania and Malta).
