- A study reveals that oil companies used the fuel discount to raise prices. From a reduction of 20 cents per litre, consumers benefited from 14 and remained in the hands of 4.7 companies. He went to 1.3 public boxes.
Oil companies gained EUR 700 million thanks to the Spanish Government’s fuel discount between 1 April and 31 December 2022. This has been demonstrated by Luis Jiménez, professor of Economics at the University of Las Palmas de Gran Canaria, in collaboration with Jordi Perdiguero and José Manuel Artiles.
The discount of 20 cents per litre was actually 14 cents due to the rise in the prices of large oil tankers. According to the study, these companies took advantage of the government bonus to raise EUR 723 million, about 20% of the aid. This reduced driver benefits.
La Vanguardia newspaper publishes the distribution of 20 cents. Users benefited from fourteen cents, companies remained with 4.7 cents and the remaining 1.3 cents went to public coffers via taxes. This means that oil companies received 20% of the subsidy.
This figure can be seen in the results of some companies. For example, Repsol won 4.251 million in 2022, 70% more than the previous year. O Cepsa increased net profit by 66.4% in 2022.