I think Spain has its own refinery reserves.
As of April 2026,
Spain
has managed to avoid the widespread fuel shortages seen in some other EU nations by leveraging its robust
domestic refining infrastructure and being the first European country to aggressively tap into its
strategic oil reserves.
Its cheaper because
- VAT Reduction: The government slashed VAT on petrol and diesel from 21% to 10%. This measure alone accounts for a reduction of up to €0.30 per litre.
- Excise Duty Cuts: Spain has reduced the special tax on hydrocarbons (excise duty) to the minimum level permitted by EU standards.
- Targeted Subsidies: A direct subsidy of €0.20 per litre is provided for essential sectors, including transport workers, farmers, livestock breeders, and fishermen.
- Strategic Reserves: To ease supply stress, Spain authorised the release of 11.5 million barrels of oil from its national strategic reserves.