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Date Published: 14/03/2025

Fuel prices drop back to January levels: What’s the cost of a full tank?

Fuel prices continue their downward trend, with diesel dropping below pre-Ukraine invasion levels

Spanish fuel prices have dropped for the third consecutive week, returning to levels seen at the start of the year. This includes a notable decrease in diesel prices, which have now fallen below the levels seen before the Russian invasion of Ukraine in February 2022.

The average price for a litre of diesel dropped by 1.2% this week, reaching €1.472, its lowest point since mid-January. Petrol also saw a 1.15% decrease, bringing the price down to €1.540 per litre – the lowest since the first week of 2025.

These reductions come after a period of price fluctuations. Until mid-October, both petrol and diesel had been steadily falling, but prices began to rise again before Christmas, continuing into the new year.

Filling the Tank Becomes Cheaper

At the current prices, filling a 55-litre tank of diesel now costs approximately €80.96, which is €4.40 less than the same time last year, when it cost around €85.36. For petrol vehicles, filling a 55-litre tank now costs around €84.70, down by €3.85 from €88.55 in the same week of 2024.

With this price reduction, the cost of diesel is once again below the levels seen before the Russian invasion of Ukraine, when it was priced at €1.479 per litre. Meanwhile, petrol remains lower than the €1.591 per litre it was at that time.

Far from Peak Prices

Despite the recent drops, both petrol and diesel prices remain well below the highs they reached in July 2022, when petrol was priced at €2.141 and diesel at €2.10. Diesel has now been priced lower than petrol for 106 weeks, which mirrors the situation before the invasion. From August 2022 to mid-February 2023, diesel prices were higher than those for petrol.

Fuel prices are influenced by various factors, such as crude oil prices, taxes, and logistics costs. Changes in crude oil prices do not immediately reflect in fuel prices, but they are gradually passed on.

Currently, the price of 95-octane unleaded petrol in Spain is lower than the EU average (€1.666 per litre) and the Eurozone average (€1.715). Diesel is also cheaper than the EU average (€1.595) and the Eurozone average (€1.618).

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Image: Freepik

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