Petrol Price Alert: Why Spain's Fuel Costs Could Jump Another 10 Cents This Week

Fuel Prices Set to Rise Again

Spain's fuel prices are expected to increase by 8 to 10 cents per litre this week, with average diesel prices potentially reaching €1.95. The spike comes as Brent crude oil trades near $100 per barrel, driven by ongoing military blockade concerns at the Strait of Hormuz.

The Minister of Economy, Carlos Cuerpo, stated the government is "monitoring" the situation to prevent speculative pricing practices.

Why Prices Are Rising

Crude oil prices have risen amid intensifying concerns about Middle East supply routes. The Strait of Hormuz represents a critical corridor for global oil supplies — any disruption in this area is particularly impactful on international markets.

As Spain is a net energy importer, higher crude prices translate directly into increased household and business expenses.

Stock Market Impact

The IBEX 35 fell approximately 1.2% at market opening on Monday, reflecting investor caution. Rising oil prices negatively affect sectors reliant on fuel and logistics, including:

• Transport
• Tourism
• Manufacturing

Airlines and transport companies face mounting fuel expenses, adding to broader market nervousness.

Inflation Risk

CaixaBank Research has identified rising oil prices as a significant upside risk for inflation in Spain, particularly if energy costs remain elevated for a sustained period.

Impact on Households

If elevated prices persist, effects will cascade into daily life:

• Fuel prices respond first at the pump
• Increased costs in goods and services dependent on transportation follow
• Sustained energy price increases add pressure to households already managing higher living expenses

The timing is particularly challenging with the summer travel season approaching.

What Happens Next

Markets are currently reacting to uncertainty rather than confirmed supply disruptions. However, global energy systems remain sensitive to geopolitical developments, and further volatility is likely as tensions continue to evolve.

This article is based on reporting from Euro Weekly News, published April 20, 2026.