Spain’s gasoline and diesel prices hit €1.70‑€1.80 per litre as taxes and oil‑price shocks drive costs

Fuel prices across Spain rose sharply in late July 2026. The Ministry for the Ecological Transition reports average retail prices of €1.69 per litre for gasoline 95, €1.86 for gasoline 98 and €1.79 for diesel. Regional variation is wide; chains such as Costco, Alcampo, Ballenoil, Plenergy and Petroprix offer the lowest rates, while Repsol stations remain above the average.

The surge follows the end of a temporary VAT reduction (10 % to the standard 21 %) and a rebound in crude oil prices, with Brent flirting with $100 per barrel amid geopolitical tension in the Red Sea and the United States‑Iran conflict. Analysts warn that a closure of the Bab el‑Mandeb Strait could push oil prices even higher.

Eurostat data show that 52 % of the EU gasoline price is tax, and additional regulatory charges add another 5‑10 %. This fiscal weight limits the pass‑through of lower crude prices to consumers. Filling a typical 55‑litre car tank now costs about €87 for gasoline and €90 for diesel, levels not seen since the 2022 price peaks.

Local price checks reveal similar patterns. In Madrid, the cheapest stations listed by the geo‑portal charge €1.415‑€1.479 per litre for gasoline 95. In Santa Cruz de Tenerife, the lowest rates are €1.255‑€1.345 per litre for gasoline 95 and €1.335‑€1.338 per litre for diesel. Drivers continue to compare stations to minimise expenses.