Wednesday, December 17, 2014

The price of fuel

The price of Brent crude oil has fallen below the $60 a barrel mark for the first time since early July 2009. And it is predicted to keep on falling after the Organisation of the Petroleum Exporting Countries indicated it will not cut production even if it falls to $40 a barrel.

In countries like England this means that the prices of fuel at petrol stations will be reduced considerably. Predictions show that it could mean the return of petrol at less than £1 per litre – diesel will be about 6p more expensive.

The question is, “will the prices of fuel at the pumps here in Spain be cheaper”.

A few weeks ago we were discussing this very issue in our Spanish class, Our teacher remarked that the price of petrol always seems to go up here in Spain as the price of oil increases but never seems to go down when the price falls.

I filled my car up before setting off to the airport on the 4th and the price then for petrol was higher than in the UK. It will be a few weeks before I need to top up again, I’ll keep my eye on the prices to see if Antonio is right.

UPDATE

One of my readers has pointed out that the price of fuel in Spain is normally cheaper than in England and asks me for the current price.

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The graph also explains why the price I paid here in Bigastro was more expensive than the price in England. Between filling my car up here in Spain on the 4th and filling up the hire car in England on the 13th, the price had dropped.

1 comment:

Bill said...

Ordinary RON 95 unleaded is currently £1.149 a litre in my local area (northern Scotland) equiv. @ 1.23 to about €1.41. When I was last in Spain, upto end October, prices locally in Spain ( near Mazarron) were around €1.42 whereas here in northern Scotland the price then was about £1.28 or £1.29, in other words a bit more than in Spain. For the past several years I've found that petrol costs more in UK than Spain. What is current price in Spain for 95 unleaded?