FUEL prices are continuing to rise in the Balearics to the highest levels of recent years and approaching the historic record reached in 2008, Jesus Salas, the President of the Association of Balearic Service Stations said yesterday.
In line with confirmation provided by Central Government's Ministry for Industry, Tourism and Commerce, the price of 95-octane unleaded petrol has soared to 1.216 euros per litre in recent days in the Islands.
Whilst these top prices were being spotted at a service station in Llucmajor and another in Santa Eularia on Ibiza, the lowest - 1.17 euros per litre - was picked up at a filling station in Portocolom in the municipality of Felanitx.
The same trend, Salas said, can be seen with gasoil A, the fuel which - according to the Ministry - is most used by people with private cars and commercial vehicles. Prices of gasoil A have reached a maximum high of 1.131 euros, apparently being demanded by service stations located in the municipalities of Palma and Calvia. Customers on Minorca, are not feeling the pinch quite so badly as minimum prices of 1.096 per litre are still in force.
Speaking yesterday on the current economic climate and market demand, the Balearic Service Station Association President confirmed that a barrel of Brent crude - considered by European users as being the best quality oil - is currently costing 86.35 dollars.
Salas also predicted that because of the demand for fuel as temperatures plummet earlier than usual at the start of winter, prices are going to remain high over the next few weeks.
Another question to consider, he pointed out, is the exchange rate of the euro against the dollar as purchases are now being made in dollars.