THE petrol prices in Spain yesterday reached new record highs after a week of uninterrupted increases, which will have serious repercussions for the economy and many local businesses in the Balearic Islands. Petrol prices have increased by 22.9 percent since the start of the year, and with regards to diesel prices, they have also increased, this time by 17.6 percent during the year. With the exception of August, every month this year has seen on average of 2 centimes increase in petrol prices, and a 15 centime increase in diesel costs per litre. This information was yesterday handed over to the Ministry of Industry by the many service stations in Spain.
The average price of unleaded petrol (95) has risen from 84.3 euros back on 3 January, to 1'028 euros yesterday. That is to say, a 18.5 centimes increase throughout this year. The cost of 97 unleaded petrol has also gained in value, an increase of 19.4 centimes, taking it from 92.3 euros to 1'117 euros.
The average price of the 98 unleaded petrol has now risen to 1'143 euros, compared to 93 euros at the start of the year, an increase of 21.3 centimes per litre. With regards to diesel prices, they too are at historic levels, increased from 80.8 euros to 94.5 euros, an 16.9 percent increase.
The evolution of the petrol prices is directly related with the increased petrol prices found in today's international markets.
The price of Texas barrel, from USA, was at 66.01 dollars yesterday, which was 7 cents more than at close of play on Tuesday. These increases will have knock-on effects in the local economy.