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Spain: CNMC issues warning over high gasoline profit margins

 |  December 10, 2018
Spain’s National Commission for Markets and Competition (CNMC) has sounded the alarm regarding what it sees as a worrying increase of profit margins in the sale of gasoline, as operators around the country continue to raise their prices despite recent drops in the price of the barrel of oil, which have raised the profit margin by 7.3% in just a few months.

According to data gathered by the CNMC, the prices -before taxes- of gasoline and diesel continue to exceed the European, a constant situation over last months that was accentuated throughout October. In fact, Spanish prices for petrol 95 mix ranks second in the ranking, only behind Denmark.

The average price for a liter of gasoline has seen its seventh consecutive weekly decline, standing at 1.241 euros, with a reduction of 2.43%. The liter of diesel, whose taxation is expected to be increased by the government in 2019, reached its fifth consecutive week of sliding after experiencing a decrease of 2.44%. However, and despite these successive drops in fuel prices, the year-on-year trend for gasoline continues to show an increase of 0.3%.

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