Petrol goes up for the fifth time this month

Drivers received yet another blow to their wallets yesterday when Repsol upped its petrol prices by two pesetas a litre and diesel by one, while Cepsa raised its prices by one pesetas. For Repsol, it was the fifth increase so far this month, bringing a litre of 95 octane lead-free petrol up to 151.9 pesetas. Repsol had not raised the price of diesel for cars since March 7 and added one peseta, bringing the top price up to 112.9 pesetas a litre. The 95 octane lead free petrol has gone up by 12 pesetas since the end of last year, super by 18 pesetas and diesel by 17 pesetas. Repsol has a 45 per cent share of the domestic market and blamed the increase on the price of petrol on the international market, and the depreciation of the euro. A spokesman pointed out that petrol and oil are negotiated in dollars, and although the barrel has dropped in recent weeks, it is now nearly $28, compared to $22 at the end of April. Repsol, which markets petrol under Campsa, Petronor and Repsol, has applied 14 official price increases so far this year. British Petroleum (BP) later said that it would follow suit, raising prices by two pesetas a litre, except for 98 octane lead free which remains unchanged at 149.9 pesetas and diesel which goes up by one peseta.