The petrol discount is over: 31 December is the last day

After several months in which we have benefited from an attractive discount on the price of petrol and diesel, the government has announced that it will not extend this measure beyond 31 December. This means that those 20 euro cents applied to every litre we put in the car’s tank will disappear from the equation.

The reason the government believes it is no longer necessary is the downward trend in fuel prices that has been seen over the last few weeks. As a result, the price of 95-octane petrol is approaching 1.5 euros, well below the peak it reached a few months ago. Diesel is still priced above petrol, but it is also enjoying a considerable fall.

Price above 2 euros

Fuel prices rose sharply due, among other factors, to the war between Russia and Ukraine. A litre of 95-octane petrol cost 1.19 euros on average in January 2021. One year later it stood at 1.48 euros. That rise was already significant, but after Russia’s invasion of Ukraine, fuel prices began to climb further.

In July, the price was expected to approach three euros per litre, but luckily it stayed slightly above two euros. With the government discount in place, consumers received a 20-cent-per-litre bonus. It was not a huge amount, but it eased the expense.

For several weeks there was talk of keeping that bonus for a few more months, to offset the high prices of petrol and diesel. But we already know the measure will not go beyond 31 December, at least for private consumers.

The Council of Ministers has decided that the measure will remain in force for professionals in the transport sector, farmers and fishing professionals. They will continue to enjoy this measure, which will ease their monthly fuel spending. In the case of hauliers, the bonus will be paid at the end of each month. In the case of farmers, it will be applied as a discount on the fuel tax.

So if you want filling your tank to cost less, you can fill it before the year ends, because on 1 January it will cost you more. In the meantime, we hope prices keep falling and we can enjoy the prices we had in 2021.