Overview
- El Periódico reports the Spanish average retail price for gasoline is 1.783 euros per litre, down 0.003 from the prior day, while diesel is 1.889 euros per litre, up 0.002.
- The rise in fuel prices began after the armed conflict that started on February 28 and the subsequent missile strikes and attacks on vessels that pushed global crude higher.
- A peace agreement reached in June temporarily lowered Brent crude and eased pump prices, but intermittent attacks since then have produced frequent price swings.
- Attacks near the Strait of Hormuz disrupted shipping, forced many tankers to reroute or anchor, tightened effective supply and allowed higher wholesale costs to be passed through to retail prices.
- Diesel price moves matter beyond drivers because freight and professional transport rely on gasoil, so continued volatility risks higher transport costs and wider effects on goods prices.