Gasoline price increases blamed on biofuels

In Spain, EuroWeekly News reports that gasoline prices have increased in Spain because of the recent change in the biofuels percentage. On May 18^th, the government increased the percentage of biofuels in every liter by 0.5% each year for the years 2023-2026 (so 10% in 2022, 10.5% in 2023, 11% in 2024, 11.5% in 2025 and 12% in 2026), which some are blaming for the gasoline price increase now.

The Royal Decree 376/2022 regulates the sustainability criteria and the reduction of greenhouse gas emissions from biofuels, bioliquids and biomass fuels, as well as the system of guarantees of origin of renewable gases.

EuroWeekly News reports that increases in the biofuel percentage are expected next year with Spain having not yet met the EU minimum requirements according to Teresa Ribera, Minister for Ecological Transition.