Motorists in Spain are enjoying a pleasant surprise this Easter as fuel prices have dropped significantly, just in time for the Semana Santa holiday. Both petrol and diesel are now about 10% cheaper than they were at this time last year, offering drivers a welcome break at the pump.
According to the EU Petroleum Bulletin, which tracks fuel prices across Europe, the average price for a litre of 95-octane petrol is now €1.496, while diesel has fallen to €1.414. This marks a 10.42% drop for petrol and a 9.36% drop for diesel compared to mid-April 2024. These reductions follow a series of price cuts, with petrol dropping by 1.38% and diesel falling 1.81% in just the past week.
Looking at the broader trend, the decline continues. Over the past 30 days, diesel prices have decreased by 2.17%, and petrol prices have dropped by 1.38%. Since the beginning of the year, petrol has fallen by 2.60%, and diesel has decreased by 2.75%.
For many drivers, these price cuts are a welcome relief, especially compared to the peak fuel prices of mid-2022. At that time, petrol and diesel costs hit record highs, causing significant strain on motorists. Today, petrol is about 22.93% cheaper, and diesel is down 25.58%.
This translates to significant savings. Filling up a 55-litre petrol tank now costs around €82.88, while diesel drivers will pay about €77.77. While still not cheap, these prices are much more manageable compared to previous years.
Although the EU Petroleum Bulletin does not offer an explanation for the price changes, experts attribute the drop to several factors. Stabilized global oil prices, improved supply chain conditions, and slower-than-expected demand growth in certain European regions are all contributing to the decrease in fuel prices.
While the roads may still be packed with Easter traffic, at least motorists can enjoy some relief at the pump this year.