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Diesel at 1€ per litre
By:
ThinkSpain , Thursday, January 7, 2016

Diesel fuel is being sold at an average of 1.006€ per litre across Spain, nearly 9% lower than last year, and almost 8000 petrol stations are selling it a under a euro a litre.

Of these 8000, 1100 are selling it at under 90 cents a litre and two - one in La Rioja and one in Zaragoza - are selling it at under 80 cents.

According to the Ministry of Industry's geoportal, these petrol stations are spread evenly across the whole country and are just as likely to be independent as part of one of the big chains.

The huge drop in crude oil prices on the international markets since the summer of 2014 has led to a progressive fall in domestic petrol prices, which are now at 2010 levels.

Unleaded 95 costs on average 1.141 euros per litre according to data from the European Commission, which equates to 0.87% less than a year ago. There are a dozen petrol stations, mainly independents or linked to hypermarkets, where unleaded is being sold for under a euro a litre.
 
The price of Brent crude oil has stayed below 40 dollars a barrel for weeks now and even dropped as low as 36 dollars for a number of days, far below the price of over 100 dollars a barrel that was seen in the summer of 2014.

This huge price drop has led to a gradual reduction in domestic petrol prices, although the fact that more than half the retail price of petrol is made up of taxes means that the vast difference between last year's and this year's crude oil prices has been less noticeable.

 
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