Fuels

In two words, the main news that Orain will be working on today.

The tax rebate on diesel has doubled since today, while petrol has halved.

With the return to work, the families of the Basque Country face another reality, which is that this year's September hill will be one of the hardest in recent years, as evidenced by inflation at 4.3%, a figure not seen since February 2023.

The monthly cost has risen by around EUR 2 000 since February and some hauliers have decided to park their lorries for the time being, while lorry drivers associated with the HIRU trade union will discuss the possibility of paros in assembly and take a joint decision.

Filling the average petrol tank costs EUR 8.5 more than a year ago and the diesel tank costs almost EUR 16 more in the middle of the August exit operation.

Underlying inflation (excluding energy and fresh food) rose by a tenth in July to 3%.

Sara Aages' third vice-president and Minister for the Ecological Transition and the Demographic Challenge has insisted that the gas and oil markets in Spain are operating "calmly and normally."

It is the fuels that continue to exert the greatest upward pressure, a sign that the shock caused by the war in Iran continues. However, this effect has been somewhat mitigated by the fall in the price of electricity and the fiscal measures adopted by the Spanish Government. 

Spanish airlines are expected to increase passengers by 5.7% this summer compared to last year, with a projected turnover of EUR 260 million.

The company wants to avoid traditional fixed additives through the new variable Fair Travel Promise system, so that the airline can adjust the final price of the  ticket to the cost of fuel. 

Finance ministers from five countries have sent a letter to the European Commission arguing that companies that are making profits from the war must also make an effort to 'ease the burden' on their citizens. 

The NGO has called for taxes to be imposed on these companies to finance the energy transition to extraordinary profits and to tax large pollutants.

The price of diesel has risen by 30.78% in March as a result of the instability caused by the Iranian war and has set a new maximum, reaching an average of EUR 1.916 per litre in the ACV, its highest price since July 2022.

Before the US and Israel attack on Iran, the barrel of oil was worth $72. Aliados do not help reopen the Strait of Hormuz, NATO has warned of a "bad future."

ETB has been with Alaitz Goñi, owner of the Getxogas gas station, to discuss the impact of the rise in the cost of oil on their activity. In Bizkaia, customers' movements have fallen by 25% due to rising prices and demand that the Spanish Government lower taxes.

In the midst of the Iranian war, fuel prices are rising day by day. In the Basque Country, diesel is now EUR 1,767 per litre and petrol EUR 1,649. The Spanish Government approved aid when these fuels were EUR 1.91 per litre and EUR 1.81 per litre respectively by 2022.

On Monday, the Finance Ministers of Germany, Canada, the United States, France, Italy, Japan and the United Kingdom will meet urgently to discuss the war in the Middle East and its economic consequences.

The escalation has intensified since 1 March as a result of the war between the US and Israel against Iran.

This increase confirms the trend change, as petrol and diesel have fallen by more than 3.5% and 5% respectively in recent months, although filling the tank costs less than a year ago.

The facility will produce synthetic fuels such as diesel, SAF and nafta, the main component of petrol, with a production capacity of 2,000 tons per year, which can be used in trucks, ships or aircraft.