The Spanish Government will cut diesel by 20 cents in September after the price soared in July
The CPI rose four tenths in July to 3.6% across Spain, driven by higher fuel and electricity prices. In the ACV, growth was five tenths, up to 3.7%, while in Navarre it was seven tenths, up to 3.4%.
The Ministry of the Economy, Trade and Enterprise has confirmed that the reduction in the hydrocarbon tax applicable to diesel oil will rise to 20 cents per litre in Septemberfrom the 5 cents initially forecast for that month, as a result of the price increase in July .
Thedepartment headed by Carlos Cuerpo has explained that, according to details of the July CPI published by the National Institute of Statistics, the year-on-year price increase for the diesel subclass in Julywas 15.7%, above the 15% threshold provided for in the decree on measures to contain the impact of the Iranian war .
Exceeding this threshold automatically activates the -Protection clause of the Response Plan, so the reduction of the Hydrocarbon Tax applicable to dieselis set at 20 cents per litre in September.
PetrolK rose 7.3% year-on-year in July, below 15%, and maintains its forecast, witha 5 cents per litre reduction in September. "The mechanism operates in a proportionate manner and only covers protection in areas where price pressure justifies it," the Ministry of Economy, Trade and Enterprise stressed.
The Ministry stresses that the latest Royal Decree-Law on anti-crisis measures has a protective approach "adapted to the evolution of the conflictand with a prudent design that allows protection to be increased again if an adverse situation is repeated ".
Thus, the remaining measures remain active, in accordance with the provisions of the same Royal Decree-Law. According to the Ministry of the Economy, Trade and Enterprise, the measures adopted so far are working. Both the first Response Plan launched on 20 March and its follow-up, approved by the Council of Ministers at the end of June, are fulfilling the main objective of mitigating the impact of external events on householdinflation and purchasing power .
The CPI Goes Up
The Consumer Price Index(CPI) has raised its year-on-year rate in July by four tenths, to 3.6%,the highest figure in Spain as a whole since May 2024, according to the final data published this Thursday by the National Institute of Statistics (INE). In this context, the INE has raised its preliminary estimate by a tenth (3.5%).
Inthe Basque Autonomous Community(CAV), the year-on-year CPI rose five tenths in July to 3.7% , its highest level since May 2024, driven by higher fuel and electricity prices, and monthly prices rose 0.3%.
In Navarre, the year-on-year CPI rose seven tenths in July to 3.4% .
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