Petrol Price in Gibraltar: How the end of Import Duty discount has affected our pockets.
Staying abreast of petrol prices is crucial for both residents and businesses. The beginning of 2024 witnessed a notable shift in fuel costs.
When looking into the price of petrol in Gibraltar, you need to know that in April 2022, the Government introduced a commendable 15-pence discount on import duty for every litre of fuel. This discount, aimed at alleviating financial pressures on consumers, unfortunately reached its conclusion on December 31st, 2023. As a result, the start of 2024 has seen fuel costs increase.
Previous vs Current Petrol Price in Gibraltar:
The increase in petrol prices in Gibraltar from 2023 to 2024. In 29/12/2023, the price for Unleaded 95 petrol was £1,130 and €1,328, while Diesel was priced at £1,140 and €1,340. However, a noticeable increase is observed in 02/01/2024. The cost of Unleaded 95 surged to £1,260 and €1,481 – an increment of approximately 11% and 12% respectively, in both currencies. Similarly, Diesel experienced a hike to £1,290 and €1,516 – marking around a 13% augmentation in both pound sterling and euro.
This data underscores the impact following the conclusion of a significant governmental initiative, shedding light on the subsequent shifts in fuel costs. The increased prices pose challenges for consumers and businesses alike, prompting a reevaluation of budgetary considerations in the face of evolving economic dynamics.
A Glimpse into the Future: Navigating Fuel Efficiency
While the increase in petrol prices poses challenges, there are proactive measures to optimize fuel usage and mitigate costs. Explore our article on Fuel Efficiency Tips to discover practical strategies for driving smarter and maximizing mileage.
Free Public Transport in Gibraltar
Gibraltar was the first city in the world to offer free public bus transport to its residents as of 2012. This initiative has been a great success, with many locals opting to use public transportation instead of private cars. With the recent increase in petrol prices, using public transportation is an even more attractive option for those looking to save money.
By using public transportation, you can save money on fuel costs, reduce your carbon footprint, and avoid the hassle of finding parking.
The Gibraltar Bus Company provides a reliable and efficient service, with buses running regularly throughout the day. In addition, the bus network covers most parts of the city, making it easy to get around. Using Bus Tracker you can discover the location and direction of all of the buses on every route in real-time.
If you’re looking for an alternative to using private cars, the free public bus transport in Gibraltar is an excellent option. Not only is it affordable and convenient, but it’s also a great way to explore the city and meet new people.
In conclusion, the end of the import duty discount has had a significant impact on petrol prices in Gibraltar. However, there are still ways to save money on fuel, and by staying informed and taking advantage of available resources, you can make sure you’re getting the best possible deal.
