Drivers warned as petrol prices hit record high

6th July 2005, Comments 0 comments

13 July 2005, MADRID — Drivers were braced for a costly summer as the price of petrol in Spain has reached an historic high, according to government statistics.

13 July 2005

MADRID — Drivers were braced for a costly summer as the price of petrol in Spain has reached an historic high, according to government statistics.

The Spanish ministry of industry, tourism and commerce said diesel A was now on sale at the average price of EUR 0.92 per litre — 14.3 percent more than at the start of the year.

Its more ecologically favourable alternative, gas oil A, now costs EUR 0.96 per litre — and has gone up 15.4 percent since January.  

Prices hit the new high on 1 July, as thousands of Spaniards headed out on the road for their summer holidays. 

But the biggest rise was seen with unleaded 95, the favourite petrol in Spain, which now sells for EUR 0.98 on average, though in reality it is on sale for at least EUR 1 per litre in most petrol stations.

This type of fuel has gone up 17 percent since January.

The alternative unleaded 98 petrol costs EUR 1.08, a rise of 16.6 percent in the first six months of the year, while the super 97 variety sells for EUR 1.06 on average, an increase of 16.7 percent.

The fall in the value of the euro against the dollar and the rise in the price of crude oil worldwide have pushed up the cost of petrol in Spain, analysts said.

Alvaro Mazarrasa, president of the Spanish Association of Petroleum Product Operators, said crude was expected to stay at between USD 55-60 a barrel in the next few months.

He said there was "real tension" in the demand for petrol products and the price rise reflected a fear that supply may be hit.

[Copyright EFE with Expatica]

Subject: Spanish news

 

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