Petrol and diesel prices fluctuate ahead of the long December weekend

The December long weekend is just around the corner and these are key commuting days for thousands of Spaniards who will take advantage of the holidays on Tuesday 6 and Thursday 8 December to travel overland. However, concern about the price of petrol is still one of the main factors for this week and there are many who decided to avoid getting into the car these days due to the high cost of crude oil in Spain in recent days.

The good news is that two weeks later, the price of gasoline suffered its first U-turn, just days before the first mass exodus occurred. Their cost is falling, and on average, last Wednesday, the price of a liter was 1.70 euros, while the price of diesel fell to 1.78 euros / liter. This drop contrasts sharply with what was published in the European Oil Bulletin on November 21, where the price of diesel for cars was €1,876.

In fact, the National Institute of Statistics (INE) indicated this Tuesday that the CPI moderated year-on-year to 6.8% in November was mainly due to lower fuel and electricity prices.

Oil prices ended mixed on Tuesday in the market. The price of a barrel of Brent crude for delivery in January 2023, the benchmark in Europe, is trading this Tuesday near $84, which is an increase of 0.8% compared to Monday’s close.

In today’s session, and after opening down at $82.41, the barrel recorded a daily low of $82.39 and a maximum price of $86. In this way, despite the rally, the price of Brent crude has fallen by more than 5% in the past week.

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Despite this, since the beginning of 2022 it is still gaining 6% of its value compared to $79.32 at the end of 2021, a year in which it witnessed an increase of 54.5%, leaving behind the strong impact of the pandemic. Corona Virus.

Keys to the price of gasoline

“Prices have gone up in anticipation of an improvement in the health situation in China, after the demonstrations put pressure on the government to ease health restrictions,” Edward Moya of OANDA told AFP just before the lockdown. For the first time in several weeks, the number of new cases of Covid-19 recorded in China in 24 hours has fallen below 40,000, according to the National Health Commission (NHC).

Susanna Streeter of Hargreaves Lansdowne said prices were boosted earlier today by the prospect of further production cuts from OPEC and its allies within OPEC+. However, this tendency lost its strength when it was learned that the meeting that will take place on Sunday will be by videoconference. “This increases the likelihood that nothing will change,” according to Mizuho’s Robert Yawger.

Price of petrol and diesel for december bridge

The average price of diesel (Diesel A) in the Peninsula and the Balearic Islands on December 2, the eve of the Constitution Bridge, is 1,766 euros per liter, according to the portal Diesel or Petrol. For its part, the average price of petrol in our country will be around 1.693 euros / liter during this day

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