Semana Santa Sees Petrol Prices Hit New Record
April 25th, 2011
Fuel prices returned to a record high last week as thousands of holidaymakers took to the roads for the Easter break.
The price of petrol increased by 0.66%, reaching 1.363 euros per litre, representing its eleventh consecutive rise, while the price of diesel dropped slightly by 0.46% to 1.302 euros per litre, its second highest price of the year.
According to the European Union (EU) Oil Bulletin, the average price of petrol exceeded its February record of 1.3 euros per litre 7 days ago, when it was selling at 1.354 euros per litre.
Diesel, on the other hand, which passed the 1.3 euro mark for the first time in 2011, is still 2% below the record price it reached in July 2008, when it was selling at 1.329 euros per litre.
Using these figures, filling a fuel tank with petrol (an average 50 litre tank) would cost 68.1 euros, which is 9.4 euros more than last year (or 17%), while the same amount of diesel would be 65.1 euros, 11 euros more expensive than in 2010 (20.4%).
Comparing fuel prices for the same week in 2010, petrol prices have increased by 16% and diesel by 20.4%. And since the beginning of this year, the increases have been 7.7% and 9% respectively.
Given these increases, and the increase in oil prices, the Spanish Government have adopted a series of measures in a bid to reduce Spain’s energy bill by 5% (approx. 2,300 million euros). These measures include the reduction of the maximum speed on highways and motorways to 110 km per hour, and discounted tickets on Spain’s railway network, RENFE, to encourage greater use of public transport.
However, despite these price increases, the fuel prices in Spain remain, on average, cheaper than in the other eurozone countries. This difference is explained mainly by the weight of taxes in Spain, which accounts for almost half the price of public sale of these fuels.
Related Posts
- June Fuel Prices Fall But Prices up 22% on Last Year
- Fuel Prices Jump more than 3% Since Christmas
- Fuel Prices Up 27% Since January 2009
