Fuel costs increased by up to 3 euros per tank in just two weeks. This has been the most rapid increase ever in 2025. The recent escalation of tension in the Middle East has already been felt with gasoline pumps, with prices rising significantly across Spain. For example, in the Valencia region, many foreigners drive regularly, whether they commute, travel along the coast or run daily errands, but filling tanks can be significantly more expensive.
Over the past two weeks alone, the average cost of gasoline and diesel has increased from 2 to 3 euros per 50 liters. This is the most rapid jump since the beginning of the year.
Why is prices rising?
A series of military strikes involving Iran, Israel and the United States have been reacting to global oil markets, including the famous US bombing of three Iranian nuclear facilities, Iran’s response and the bombing of Qatar and Iraq. As is common, geopolitical instability in oil-producing regions leads to speculation and concern about future supply, price promotions.
The international benchmark, Brent crude, is currently trading at around $77 per barrel. While this may not be extreme at first glance, conflict-related market fluctuations often translate rapidly to rising consumer prices at service stations.
Meaning of pumps
According to Spain’s Ministry of Ecological Transition, the average price of gasoline in the Valencia region has risen 4 cents in the past two weeks to reach 1.506 euros per liter. So filling a typical 50 liter tank costs around 75.30 euros compared to the 73.30 euros at the beginning of June.
Diesel users are facing even more steep hikes. The average cost per liter of diesel rose from 1.354 euros to 1.410 euros. For a full tank, this is about 70.50 euros, starting from 67.70 euros just two weeks ago.
The biggest rise ever this year
This was the most significant fuel price rise seen in 2025, overturning the rise recorded in January, driven by increased demand and uncertainty surrounding China and Russia’s oil production.
At the heart of the current fear is the strategic straits of Hormuz, with up to 30% of global crude oil passing through. Iran’s Congress recently called for the straits to close in retaliation for US military action and raised concerns about further disruption in global supply chains.
Conflict with global outcomes
On Monday, June 23, Iran launched a missile strike targeting US military bases in Qatar and another US facility in Iraq. Iranian national media is said to be described as retaliation for attacks on US nuclear infrastructure. An explosion was heard in Qatar’s capital Doha, marking a serious escalation.
Meanwhile, Israel is seeking further retaliation. Early in the morning, the sirens sent scrambles residents to bomb shelters around the country. Iranian missiles struck residential areas in Tel Aviv, Nes Tziona and Haifa, causing at least 86 people to be injured. Israeli airstrikes continue in various parts of Iran.
What should Spanish foreigners expect?
Spain is geographically far from conflict, but in gas stations, residents, including British foreigners, are directly affected through rising costs of living. If tensions in the Middle East continue or worsen, there is a high chance that further price increases at the pump will be more likely.
Many people, especially those who rely on cars for their daily lives in Spain (there are possible that public transport in rural and coastal areas is limited), these developments are more than just headlines from overseas. Those are changes you can feel in your wallet.
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