Fuel prices in Spain registered small declines on November 2, during the Todos los Santos holiday period, when many people are travelling by road. International tensions in producing regions, limited Diesel refining capacity and domestic demand continue to influence prices, making any relief at the pumps temporary.
Unleaded 95 petrol fell to €1.724 per litre, down 0.7 cents from the previous day. Unleaded 98 dropped 0.9 cents to €1.895 per litre.
Diesel prices also decreased. Gasóleo A stood at €1.897 per litre, a reduction of 0.3 cents, while the premium Gasóleo A+ fell 0.4 cents to €1.989 per litre. Autogas and LPG rose slightly to €1.101 per litre, compared with €1.100 the day before.
The reported averages apply to mainland Spain and the Balearic Islands. Prices can vary considerably between service stations, with the difference between the most expensive and cheapest locations exceeding 15 cents per litre.
Taxes account for a significant part of the final price: €0.472 per litre for petrol and €0.379 for diesel. The VAT rate remains at 10% as part of an extraordinary fiscal measure intended to cushion consumers from volatility linked to the war in Iran.
Fuel prices remain closely connected to the international Brent crude market. On November 2, Brent was trading lower at around $110.37 per barrel, while the Euro was exchanging at $0.8960.
Sources: Motorpasión.