{"id":207582,"date":"2026-03-05T03:30:30","date_gmt":"2026-03-05T03:30:30","guid":{"rendered":"https:\/\/teknomers.com\/en\/its-been-rising-for-days-and-weve-already-got-lines-at-the-low-cost\/"},"modified":"2026-03-05T03:30:32","modified_gmt":"2026-03-05T03:30:32","slug":"its-been-rising-for-days-and-weve-already-got-lines-at-the-low-cost","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/its-been-rising-for-days-and-weve-already-got-lines-at-the-low-cost\/","title":{"rendered":"It’s Been Rising for Days, and We’ve Already Got Lines at the Low Cost"},"content":{"rendered":"\n
\n

## Rise in Fuel Prices Amid Geopolitical Tensions<\/p>\n

The ongoing conflict involving the US, Israel, and Iran is causing significant upheaval in global energy markets, with repercussions felt as far afield as Spain. The price of Brent crude oil has surged nearly 30% this year alone, seeing an 8% spike just this past Monday. This rapid increase has led Goldman Sachs to adjust its forecasts upwards, signaling a concerning trend for consumers at the fuel pump.<\/p>\n

## Long Queues at Gas Stations <\/p>\n

In Spain, rising fuel prices have already led to long queues at gas stations, reminiscent of the 2022 crisis following Russia’s invasion of Ukraine. Major service stations, such as the Costco in Seville, are experiencing a wave of vehicles waiting to fill up, prompting many to worry about imminent price hikes. <\/p>\n

### Current Price Trends<\/p>\n

As of March 4, the average price for 95 gasoline in the Peninsula and the Balearic Islands has risen to \u20ac1.557 per liter, a slight increase from \u20ac1.531 the previous day. Diesel prices have also spiked from \u20ac1.492 to \u20ac1.539 per liter within a single day, showing how volatile the market currently is.<\/p>\n

## The Geopolitical Bottleneck <\/p>\n

A significant contributor to this turmoil is the disruption of traffic through the Strait of Hormuz, a crucial artery for global oil transport where about 20% of the world’s crude oil and liquefied natural gas passes through. While Europe does not directly import Iranian crude oil\u201490% of which goes to China\u2014the ongoing blockade impacts global price references.<\/p>\n

### Forecasts from Analysts<\/p>\n

Goldman Sachs has recently revised its Brent oil price forecast for Q2 of 2026 to an average of $76 per barrel, reflecting an increase of $10 from previous estimates. Analysts warn that if the blockade continues for several weeks, prices could escalate to $100 per barrel. <\/p>\n

## Market Reactions <\/p>\n

Experts like \u00c0ngel Hermosilla of the Col\u00b7legi d’Economistes de Catalunya emphasize that energy markets are incredibly volatile and reacted quickly to geopolitical dynamics. Meanwhile, suppliers are forecasting extra costs of 10 to 12 cents per liter for gas stations, suggesting these costs will soon reflect in consumer prices.<\/p>\n

### Historical Context <\/p>\n

This situation echoes past crises; during the onset of the Ukraine conflict in 2022, prices at some fuel stations surged, causing considerable losses. The Organization of Consumers and Users (OCU) has also noted that if Brent stabilizes around $80, an increase of between 8 and 10 cents per liter is likely in the upcoming weeks.<\/p>\n

## Broader Economic Implications<\/p>\n

The rise in fuel prices has a cascading effect on various sectors, from food transportation to airline fares. Eduard Conti, a personal finance expert, pointed out that while Spain’s current inflation rate is around 2.3%, the cumulative price index has risen 23% over the last five years due to various factors, including fuel price hikes. <\/p>\n

Phil Lane from the European Central Bank noted that the long-term impact on inflation will heavily depend on how long the conflict lasts. <\/p>\n

### Although Rising, Prices Still Below Historical Highs <\/p>\n

Despite recent increases, current fuel prices in Spain remain significantly lower than the historical highs recorded in 2022, when gasoline reached \u20ac2.152 per liter and diesel peaked at \u20ac2.106. However, as noted by industry experts, the rapid pace of current increases raises concerns that these figures could be reached once again.<\/p>\n

In summary, the interconnectedness of global politics and energy prices is becoming increasingly evident, with consumers likely feeling the pinch as geopolitical tensions continue to unfold.<\/p>\n<\/div>\n


\n
General News – 2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

## Rise in Fuel Prices Amid Geopolitical Tensions The ongoing conflict involving the US, Israel, and Iran is causing significant upheaval in global energy markets, with repercussions felt as far afield as Spain. The price of Brent crude oil has surged nearly 30% this year alone, seeing an 8% spike just this past Monday. This […]<\/p>\n","protected":false},"author":1,"featured_media":207583,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36399],"tags":[2180,586,5267,1409,10731],"class_list":["post-207582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-cost","tag-days","tag-lines","tag-rising","tag-weve"],"_links":{"self":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/207582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/comments?post=207582"}],"version-history":[{"count":1,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/207582\/revisions"}],"predecessor-version":[{"id":207584,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/207582\/revisions\/207584"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media\/207583"}],"wp:attachment":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media?parent=207582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/categories?post=207582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/tags?post=207582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}