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Gasoline and diesel break historic price records

Gasoline and diesel break historic price records

From the beginning of Russia-Ukraine conflict at the end of last February,The prices of gasoline and diesel have shot up more than 30%. In the case of gasoline, the percentage increase rises to 33% and that of diesel to 38%.

Counting on this subsidy, the price of a liter of gasoline would be almost 12 cents more expensive than in the last week of March, where it was worth 1,818 euros. Compared to the same period in 2021, the value of half a liter of gasoline has become more expensive by 55.82%, while in the case of diesel it is 67.68% more expensive in the year-on-year comparison.

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In the case of gasoil, the average price per liter has registered an increase of 3.64% and exceeded the ceiling for the second consecutive week, reaching 2.076 euros. With the subsidized rate, diesel in Spain marked prices in March of 1,837 euros per liter.

These prices are recorded in an environment of constant increases in crude oil in the current context, marked by the war in Ukraine. Thus, the barrel of Brent, a reference in Europe, was trading this Thursday above 110 dollars, while the American Texas was exchanged at just over 104 dollars.

The lower level of final prices with respect to other European countries is due to the fact that Spain, despite VAT, higher taxes and levies on biodiesel, continues to have lower fiscal pressure, in general, than the Community average European.

Source: Ambito

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