The constant increase in fuel prices has caused filling the tank of the car in Canary Islands to be 28% more expensive than a year ago.
Gasoline A (diesel) is the one that has become more expensive, specifically 34.94% compared to the week of August 3 to 9 of last year, which is the latest reference data updated in the average retail prices for service stations of the Canary Islands Institute of Statistics (Istac).
The average price per liter of diesel was 1.533 euros last week, although in La Gomera 1.753 euros were paid, in La Palma 1.751 and in El Hierro 1.743.
Gasoline 95 has become 26.19% more expensive in the last year, with an average price of 1.450 euros, although in the so-called 'green islands' the outlay is notably higher: 1.649 euros/liter in La Gomera, 1.641 in La Palma and 1.634 in El Hierro.
The lowest price increase compared to a year ago has been experienced by gasoline 98, 23.07% more, and the average price in the Canary Islands has stood at 1.579 euros, surpassed by the 1.813 paid in La Gomera or the 1.852 paid in El Hierro.
The Canary Islands began the year with gasoline 95 at 1.168 euros, 98 at 1.305 euros and diesel A at 1.161, although the closure of the Strait of Hormuz marked a surge that, for now, has not come to an end.
After a small respite, prices have not stopped rising since the week of July 6 to 12.
Inspection of the price scheme at gas stations
The Government of the Canary Islands initiated an inspection of 78 service stations spread across the archipelago in mid-July to clarify the causes of the "unison" price increase among different operators immediately after the war in Iran broke out.
If signs of collusion are found, the report could be sent to Competition and lead to the imposition of sanctions.
The idea is that the results of this study will be available in September.
What this initiative aims to clarify is whether consumer rights were respected and how the price formation structure was between January 1 and May 25, with a key date: February 28, the first attack on Iran and the closure of the Strait of Hormuz.
Before starting this inspection, the Canary executive carried out different reports to analyze the increase in fuel prices, which indicate several "dysfunctions", after analyzing 499 service stations.
One is structural in nature: the 'rocket effect' and the 'feather effect' that usually occur in scenarios of uncertainty, that is, notable and sudden price increases, in barely 48 or 72 hours, and more gradual decreases, which take between ten and thirteen days to be noticed in the final price for the consumer.
Another detected "dysfunction" is that simultaneous price increase among different operators, and it is there where "the main doubt" arises for the Government of the Canary Islands, an archipelago where four brands control 76.5% of the service station network.
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