Petrol prices plummet in Spain
Friday, October 24, 2014 @ 7:01 PM
NOW is the time to fill up with petrol as prices have plummeted to lows not seen since July two years ago.
Diesel has also fallen to prices of the second quarter of 2011, having gone down by 1.8%, and petrol has dropped by 2.8%.
The price per litre of petrol is now an average of four cents cheaper than last week, sitting at 1.352 euros, being 3.9% cheaper than at the beginning of 2014 and having sat at below 1.40 euros for a fortnight now.
A litre of diesel still costs less than 1.30 euros, the price it fell to around 10 days ago, and averages at 1.274 euros – 6% lower than in January and 6.4% lower than in the same week in 2013.
These price reductions fly in the face of the recent devaluation of the euro, which would normally lessen the effect of petrol becoming cheaper, and have come because of crude oil having reduced in cost by eight US dollars a barrel.
This said, crude oil prices are only part of the story, since in the Mediterranean area and in northern Europe, taxes make up around 50% of the cost.
Read more at thinkSPAIN.com