La gasolina y el diésel tocan un nuevo máximo coincidiendo con el supuesto veto de Trump

Diesel and gasoline prices are nearing a record high coinciding with the alleged veto of US President Donald Trump. Gasoline has continued its upward trend, marking its twelfth consecutive week of increases, reaching a new annual peak, while diesel has resumed its price hikes to consume significant fiscal rebates following the activation of the safeguard mechanism in September.

These peaks coincide with US President Donald Trump's plans to ban diesel exports for three months, aiming to lower prices ahead of the upcoming November elections. The European Commission has criticized the supposed US plan, calling it a very bad idea that would negatively impact both parties. The EU is concerned about the information regarding the US plans to prohibit diesel exports to the EU.

This debate is taking place in the US, where there are also important voices considering that any eventual ban would be a very bad idea, said the spokesperson of the EU executive, Olof Gill. The EU average price per liter of gasoline has jumped by 4.58% compared to the previous week, reaching 1.918 euros, according to data from the Union Europe's Petroleum Bulletin.

Meanwhile, the price per liter of diesel has evaporated much of the rebate that was registered with the activation of the 20-cent per liter rebate at the beginning of September. On the other hand, the average price of a liter of gasoline has risen this week to 1.928 euros, after rising by 3.32% compared to the previous week. With this new increase, gasoline prices have accumulated a 30% rise since late June.

Additionally, the gasoline price maintains its advantage over diesel for the first time since March. With this week's prices, filling a 55-liter tank with diesel costs 105.49 euros, about 28 euros more than a year ago when it was 77.55 euros. For gasoline vehicles, filling a 55-liter tank now costs around 106.04 euros, about 25 euros more than a year ago when it was 81.4 euros.

The recent months' upward trend in fuel prices since the outbreak of the Iran conflict is pushing both fuels towards the highs they reached during the summer of 2022, in July, when gasoline reached 2.141 euros and diesel reached 2.1 euros. Fuel prices depend on multiple factors, including their specific quotation (independent of crude oil), crude oil evolution, taxes, raw material and logistics costs, and gross margins.

Additionally, crude oil price evolution does not directly translate into fuel prices but does so with a temporal lag. With these levels, Spain's unleaded gasoline price of 95 remains below the EU average, at 2.092 euros per liter, and below the eurozone average of 2.157 euros. Diesel's price in Spain is also below the EU average, which is 2.226 euros, and the eurozone average of 2.262 euros.