The average price of fuels has chained its seventh consecutive week of rises, which has led a liter of gasoline to exceed the level of 1.7 euros and that of diesel to exceed 1.6 euros.

Specifically, gasoline has become more expensive this week by 1% compared to seven days ago, to stand at 1,709 euros per liter, its maximum value so far in 2023 and the highest since the end of November, although it was then The subsidy of 20 cents per liter introduced by the Government due to the crisis caused by the war in Ukraine is in force.

Thus, it would be necessary to go back to the beginning of August of last year to find a higher level for the price of a liter of this fuel, taking into account the Executive bonus that was in force until the end of 2022.

For its part, the average price of diesel also chains seven consecutive weeks of rises, with an increase of 0.94% in the last week, to reach 1.601 euros per liter, a level that has not marked since the penultimate week of last month. February, according to data from the European Union Oil Bulletin collected by Europa Press.

Since the beginning of July, when this new upward spiral in fuel prices began, the price of a liter of gasoline has accumulated an increase of 7.34%, while that of diesel has risen by 11.3%.

With these new increases, the price of both fuels is consolidated well above the levels at which they rose before the outbreak of the war in Ukraine due to the Russian invasion that began on February 24, 2022 and which, in the case of diesel , it was 1,479 euros per liter, and, for gasoline, 1,594 euros per liter.

However, both fuels are still far from the highs they reached more than a year ago, when in July gasoline reached 2,141 euros and diesel 2.1 euros.

With current prices, filling an average tank of 55 liters of gasoline currently amounts to about 94 euros, compared to 87.3 euros – about 6.7 euros more – that it cost at this point last year, including the discount of 20 cents per liter that was in force a year ago.

In the case of diesel, filling an average 55-liter tank currently costs about 88 euros, just 30 cents less than the 88.3 euros it cost in the same period of 2022.

Last year, due to the escalation in the price of fuels due to the energy crisis caused by the war, the minimum bonus of 20 cents per liter of fuel for all citizens approved by the Government as part of its response plan to the impact of the war in Ukraine.

Likewise, with this, diesel adds 27 consecutive weeks below the price of gasoline. Thus, it remains in the usual situation before the Russian invasion of Ukraine, which caused the price of diesel to be more expensive than gasoline continuously from August 2022 until mid-February of this year, when it broke. that dynamic.

In this context, this Thursday a barrel of Brent, a benchmark in Europe, was trading at 83 dollars, while the American Texas is trading at around 78.8 dollars.

The price of fuels depends on multiple factors, such as its specific price (independent of that of oil), the evolution of crude oil, taxes, the cost of raw materials and logistics, and gross margins. In addition, the evolution in the price of crude oil is not transferred directly to fuel prices, but rather with a time lag.

With these levels, the price of 95 unleaded gasoline in Spain remains below the average for the European Union, located at 1.817 euros per liter, and for the euro area, with an average price of 1.877 euros.

In the case of diesel, the price in Spain is also lower than the EU average, which is 1,718 euros, and the euro zone, where it marks a price of 1,756 euros.