What will happen to the 20 cent discount on gasoline in 2023?
In the midst of the indefinite hauler strike called for next Monday, November 14, on the eve of Black Friday and with skyrocketing fuel prices, many drivers are now wondering what will happen to the discount of 20 cents on gasoline and diesel starting next year. It should be remembered that this bonus promoted by the Government of Spain, through the Royal Decree-Law 6/2022, of March 29ends on December 31, 2022. However, although it has not yet been definitively confirmed by the Executive of Pedro Sánchez, the extension of this exceptional measure is not totally ruled out.
However, unlike the free train ticket, it is not contemplated in the new General State Budgets, presented at the beginning of last October by the Minister of Finance and Public Administration, María Jesús Montero. However, the one who has spoken has been the Minister of Economy, Nadia Calvino, during his speech in an interview with Radio Nacional de España (RNE). “We have to evaluate the fuel allowance” to decide whether “This measure is maintained for the entire population or if it is better to focus on some group that can be more affected”. Precisely in this sense, only carriers could benefit with up to 20 cents discount on fuel.
The gap between diesel and gasoline increases
A gap of more than 21 cents between diesel and gasoline. The average price of a liter of diesel in Spain remains for the twelfth consecutive week above that of gasoline, with a gap of just over 21 cents. This average amount of both fuels includes taxes, but it does not reflect the discount that came into force from last April 1 of at least 20 cents per liter, since there are higher discounts, depending on the oil company and the promotions for loyal customers. Counting on that subsidy, the price of a liter of gasoline would be 1,559 euroswhile that of diesel would be at 1,771 eurosin both cases clearly lower than those marked at the end of March, before the entry into force of the aid.
3.5% and 28% more expensive than a year ago
Compared to the same week a year ago, picking up the grant, the price of a liter of gasoline is 3.5% more expensive than a year ago, while in the case of diesel the price is 28% higher. These figures are recorded in an environment of high crude oil prices in the current context, marked by the war in Ukraine. Thus, this Thursday the barrel of Brent, a reference in Europe, was trading at almost 95 dollars, while the American Texas was exchanged at around 88.5 dollars.
The price of fuels depends on multiple factors, such as its specific price (independent of that of oil), the evolution of crude oil, taxes, the cost of raw materials and logistics, and gross margins. In addition, the evolution in the price of crude oil is not transferred directly to fuel prices, but rather with a time lag.
European Union levels
With these levels, the price of unleaded gasoline of 95 remains in Spain below the European Union average, located at 1,797 euros per liter, and from the eurozone, with an average price of 1,852 euros. In the case of diesel, the price in Spain is lower than the EU average, which is 1,962 euros, and also that of the euro zone, with a price of 1,994 euros.
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