Fuel Prices Drop In Time for Summer
July 1st, 2011
Diesel and petrol prices have recorded a second straight week of declines, falling between 2.3% and 1.4% per litre, respectively, and just in time for the start of the summer season.
Europa Press reported that the price per litre of diesel, used by 80% of Spanish vehicles, stood this week at 1.243 euros, a decrease of 2.28% over the previous week, according to the EU Oil Bulletin.
Meanwhile, the price per litre of petrol this week reached 1.305 euros, representing a fall of 1.36% over the past seven days.
This drop in fuel prices is recorded just as the Special Summer Traffic Scheme starts in Spain (July 1 to August 31), when about 83 million trips are expected to be made over the period (800,000 more than expected in 2010) .
Moreover, this decline coincides with the lowering of prices and a fall in pressure over prices of oil, which last week led the Government to agree not to extend the speed limit of 110 km per hour on motorways. The result of that agreement means that from today, July 1, the speed limit on these types of roads returns to 120 km per hour.
However it was noted that petrol and diesel cost 3.9% and 4.7% more than at the beginning of this year, and 11.8% and 13.6% more, respectively, in the same week of last year.
With the current price scenario, filling an average vehicle tank size of 55 litres with petrol will cost 71.70 euros, 8 euros more than a year ago, while in the case of diesel, filling the tank would cost 68.36 euros, an increase of 7.50 euros.
