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Spain Prepares Measures to Counter Rising Energy and Fuel Costs

Published March 12, 2026, 17:09
Spain Prepares Measures to Counter Rising Energy and Fuel Costs

Spain is preparing a new set of fiscal measures to mitigate the impact of escalating tensions in the Middle East on electricity and fuel prices. The increase in prices is due to fears of disruption to hydrocarbon supplies due to hostilities and the potential closure of the Strait of Hormuz. Fuel prices in Spain have already risen significantly in the last two weeks, with diesel increasing by more than 25%. The government plans measures similar to those implemented in 2022 to address the effects of the Russian invasion of Ukraine, with particular emphasis on supporting the agriculture and transport sectors. Economy Minister Carlos Cuerpo estimated that Spain is in a better position than in 2022, due to the diversification of its energy supply and the large penetration of renewable energy sources (56%).