In a very short time, life has become more and more expensive: the shopping basket, electricity and fuel prices have skyrocketed like never before, reaching record highs.
On Monday, March 7, some of the signs advertising fuel prices at the gas stations exceeded the barrier that we all feared: the liter now exceeds 2 euros. In recent weeks, the prices of gasoline and diesel have been reaching record highs in Spain and the Russian invasion threatens to continue to push them up.
Specifically, at the Repsol service station at the Ses Figueretes roundabout, a liter of 98 petrol costs 2.005 euros. The Cepsa station at Bartolomé Roselló has also crossed the 2 euro barrier, with 2.009 euros/liter, as has the Repsol station on the Ibiza – Sant Joan road, with 2.005 euros/liter. Most of the remaining fuel stations on the island have the price per liter at 1.999 euros.
There are several reasons for the constant increase in fuel prices. While the escalation began at the end of last year, when the price of a barrel of oil reached prices not seen since 2014, the war in Ukraine has only worsened the situation. Since Vladimir Putin began the invasion of his neighbouring country, oil prices have reached over 100 dollars per barrel and gas prices have risen to well over 110 euros per megawatt hour (MWh), as a result of Russia being one of the major global exporters of both crude oil and gas.
For the full article and a map of fuel prices on the island in realtime, please visit Diario de Ibiza website here.