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Drivers heading home after their August summer break are in for an unwelcome surprise at the pumps, with fuel now costing considerably more than it did when the holidays began.

 

According to data from the Ministry for Ecological Transition, covering more than 11,000 service stations across Spain, fuel prices have climbed by as much as 21% since the start of July.

 

Diesel reached €1.875 a litre on August 23, the most recent figure available, up 21% from €1.554 on July 1 and a record high for this time of year. Filling an average 55-litre tank now costs €103.10, almost €18 more than at the start of last month.

 

Petrol has followed a similar path, with 95-octane now priced at €1.735 a litre, 13% higher than on July 1 and the most expensive it's been in four years. A full tank now works out at €95.40, almost €11 more than before the holidays.

 

Prices started rising in the second week of July, tracking the cost of oil on international markets. Brent crude, the benchmark used in Europe, had dropped to $72 a barrel around that time, its lowest point since the Iran-Iraq conflict began in late February. A fragile truce between the US and Iran had briefly eased prices, but renewed attacks in the Strait of Hormuz, which spread to the Bab-Mandeb Strait, sent them climbing again.

 

Oil hit $100 a barrel by the end of July before dropping back to around $80 in early August, only to rise once more as tensions escalated. US President Donald Trump has threatened "the biggest sanctions in history" against Iran and its allies, while Iran's government has warned it won't let "a single drop of oil" pass through the Persian Gulf if the economic pressure continues.

 

As a result, the government's fuel discount, which replaced previous tax breaks after they expired in June, is set to rise next month. The current 10 cent per litre subsidy will increase to 20 cents for diesel from September, triggered after diesel prices rose more than 15.7% in July.

 

The jump in fuel costs adds to what's already been an expensive summer, with food and drink prices up 4.5% and accommodation costs up 8.1% compared to last year.