Price of Petrol Falls 1.6% After 14 Weeks of Increases

The price of petrol has dropped 1.6% this week and recorded its first decline after fourteen consecutive weeks of increases, nine of which were recorded as historic highs, according to the European Union Oil Bulletin.

Specifically, a litre of petrol stood at 1.473 euros this week, but this is still 13% more expensive than compared to January, and 8.1% more than the same week last year.

Meanwhile, the price per litre of diesel dropped this week by 0.2% to 1.372 euros, marking its second consecutive week of decreases, and which brings it slightly below its historic high of 1.399 euros, reached in late March.

Diesel, used by 80% of Spanish vehicles, now costs 6.7% more than in January, and 5.3% more than in the same week last year.

With the current prices, a motorist with a petrol vehicle must spend 81 euros to fill an average tank of 55 litres, which is around six euros more than in the same week last year, while a diesel vehicle would cost 75.4 euros to fill, four euros more than last year.

The price of a barrel of crude increased slightly this week, reported El Economista. Specifically, a barrel of Brent, the European benchmark, cost $119, a dollar more than a week ago, while the U.S. Texas is at $103, also a dollar more.