They are many who this weekend have poured their outrage over fuel prices onto social networks. Gasoline is being paid at almost 1.80 euros per liter, well above the 1.53 euros/liter, a milestone recorded in 2012. But the worst has not yet come: experts predict that, in a month, we could pay more than 2 euros per liter of gasoline.
According to data released on Thursday by the European Union (EU) Oil Bulletin, gasoline is sold in Spain at an average of 1,608 euros per liter, while diesel is sold at 1,496 euros. Both figures are the highest ever recorded.
We have already explained previously that there are several factors that influence the price of fuel. One of the most important is the price of oil. The invasion of Ukraine has caused Brent oil, the benchmark in Europe, to be traded even at more than 115 dollars a liter.
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A liter of gasoline will cost more than two euros in a month
From the Moure Group they foresee that the price of gasoline will reach 2 euros per liter in less than a month, which will mark “a turning point” and will predictably cause “some families to question mobility in cars”.
With these prices, filling an average 55-litre tank with gasoline currently costs more than 88 euros, while with diesel it exceeds 82 euros, which means paying 23 euros more than at the beginning of 2021 whether using gasoline or choosing diesel oil.
Low consumption in ‘conventional’ stations…
Despite the unstoppable rise in prices, according to the consumption preview of the Strategic Reserves Corporation (Cores), gasoline consumption increased by 34.9% in January compared to a year earlier and was 1% higher than in January of 2019.
This vision is not shared by the service stations grouped in the Confederation of Service Station Entrepreneurs (CEEES), which ensure that among their associates “sales are between 15 and 20% below what would be usual”.
Low cost gas stations are increasing their customer base. The general director of the Moure Group, Manel Montero, in statements collected by the EFE agency, assures that its network of low-cost gas stations at the moment “is not registering a drop in gasoline consumption.”
There are sources in the sector that observe an interest of citizens who pay more attention to the price of fuel to fill the tank before they rise even more. Proof of this is that the day the Russian invasion of Ukraine began, February 24, many gas stations broke sales records in one day.
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“Last Thursday we broke the refueling record, selling more than 1.7 million liters in one day, a figure that we had never seen before, so we have reinforced our service in the face of the increase in customers to absorb all the demand that we arrives,” a Ballenoil spokesperson explained to Efe.
Manuel Santiago, CEO of Petroprix, also considers that “this situation of rising prices has caused consumers to look for more affordable alternatives, which is causing automatic service stations to gain market share.”
