Since 24 February when the conflict between Russia and Ukraine broke out, we have felt the major consequences in the rest of the world. The price of petrol and transport tickets, such as airline tickets, among other things, have risen since then by an average of 16% and diesel by 23.5%.
In these months we have reached figures in petrol and fuel prices that we have never reached before, thus causing a big transport strike of 20 days. This transport strike has caused losses of approximately 600 million euros to the primary sector, industry and food distribution in Spain. Most distribution companies in our country have had to assume very high daily cost overruns in order to be able to transport and distribute foodstuffs and thus avoid shortages.
For companies like SIT Spain, transport by means of our lorries is the key to our business, as we move around national and international territories on a daily basis using most of our fleet of vehicles. Therefore, for this type of highly mobile company, the effects of these increases in petrol prices have been significant and have been felt very quickly.
Two months after this conflict started, we can finally notice some positive changes. For example, petrol and diesel prices are starting to come down, both of which continue to fall the day before Easter, just in time for many to use their cars to take advantage of the short holiday and change cities.
Petrol price update: a litre of SP 95 currently costs an average of 1.772 euros and 1.786 euros for diesel A in Spain.
