Sharp rise in gasoline prices in the Canary Islands : The Canary Islands

While, by province, Las Palmas has one with the highest average fuel prices, the highest prices in the entire archipelago are found in the eastern province, specifically on the island of El Hierro.

Comparing current average rates with those of a year ago, the increase has been around 40% over the past 12 months. As of March 1, 2021, in the western province of Santa Cruz de Tenerife, the average price of 95A gasoline was €0.9418 per litre. In Las Palmas, the price was €0.9647. As for the 98A, the average in Santa Cruz de Tenerife was €1.09 and in Las Palmas €1.095.

A year later, the average price of the 95 rose to €1.41 in Santa Cruz de Tenerife and €1.43 in Las Palmas.

Very expensive

The most expensive fuel in the Canary Islands can be found on the islands of El Hierro, La Palma and La Gomera, and since long before the war in Ukraine. In fact, lower fuel prices in the so-called green islands is a historical claim of their respective island cabildos. Barely a year ago, the presidents of the Cabildo of La Palma, Mariano Zapata, of La Gomera, Casimiro Curbelo, and of El Hierro, Alpidio Armas, met to analyze again the additional cost of fuel in their territories , and even then they estimated 30% more than anywhere else in the archipelago.

The presidents of the islands agreed on the need to find solutions to this problem which has affected the inhabitants of the non-capital islands of Santa Cruz de Tenerife for years and which, to this day, continues unresolved.

With unleaded 95 prices updated this Thursday, the most expensive fuel in the Western Province can be found at the three filling stations in El Hierro, all at €1,564 per litre. In the eastern province, Las Palmas, the most expensive fuel is at Marina Rubicón, in Yaiza, Lanzarote, at €1,519 per litre. There is a difference of 0.36 cents in Santa Cruz de Tenerife and 0.32 cents in Las Palmas, between the lowest prices available on the different forecourts.

A year ago, the president of El Hierro already warned that on this island in particular the problem of cost overruns “is accentuated” because the gasoline supplier works under an “island monopoly, with which the prices of the three service stations are the same”. “. The three presidents of the west of the island then asked the Canary government to look into technical and economic solutions to reduce the price of fuel on these islands. Today, El Hierro continues to post the price of the most expensive liter of fuel in the entire archipelago.

In the following graph, made by the Government of the Canary Islands, you can see the evolution of prices in the Canary Islands from January 2019 to January 2022.

Evolution of the average weekly price of gasoline and diesel in the Canary Islands

Average weekly fuel price in the Canary Islands GOVERNMENT OF THE CANARY ISLANDS

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