Petrol and Diesel Prices Rise by Nearly 2% Ahead of Major Summer Getaway

Petrol and diesel prices have surged by nearly 2% as the first major summer getaway, scheduled between Friday 4th and Sunday 6th July, begins with six million road trips expected. This increase is unwelcome news for drivers' wallets as July kicks off.

Despite the recent hikes, Spain continues to offer petrol and diesel prices below the European Union and Eurozone averages, providing some relief for the millions of Spaniards preparing for their summer road trips.

According to the latest EU Oil Bulletin data, the average price of diesel has risen for the third consecutive week, climbing by 1.78% to reach 1.425 euros per litre, its highest level since mid-April. Meanwhile, petrol prices have increased by 0.8%, surpassing 1.5 euros per litre, a figure not seen since April.

This rise in fuel prices follows a surge in crude oil prices above $70 per barrel two weeks ago, driven by tensions in the Middle East. Although Brent crude has eased to $68 this week, the impact at the pumps remains.

Despite these recent increases, marking three consecutive weeks of rises, the annual balance remains positive for consumers. So far in 2025, petrol prices have decreased by 1.3%, while diesel has fallen by 1%. This means that filling a standard 55-litre tank is cheaper than a year ago. For a diesel vehicle, the cost is around 78.3 euros (3.5 euros less than in 2024), and for a petrol vehicle, about 82.5 euros (almost seven euros less than last year).

Moreover, current fuel prices remain well below the levels seen before Russia's invasion of Ukraine in February 2022, and far from the record highs recorded in July 2022. Diesel, which has been priced lower than petrol for 122 weeks, continues the pre-conflict trend.

It is important to note that fuel pricing is complex and depends on various factors, including specific market quotations, crude oil trends, taxes, logistics costs, and distributors' gross margins. The impact of oil prices on fuel costs is not immediate but occurs with a time lag.