The Minister of Economy, Trade and Business, Carlos Cuerpo, has stated that the Government is analyzing in detail how fuel prices are being set at gas stations after the increases registered in recent days. In an interview granted to El Periódico, he explained that the Executive is reviewing the situation “looks one by one”.
Cuerpo pointed out that, for the moment, they have not detected “no signal” of excessively rapid increases in prices. Even so, he stressed that the objective of this reinforced surveillance is to be able to detect possible anomalous behaviors, both in the current rise and in the future stabilization or fall in prices.
The minister also wanted to defend the role of the business sector in this context, marked by tensions derived from the conflict in the Middle East. In that sense, he assured that his inclination is “to break a spear for businessmen and their behavior” during this episode.
Likewise, it recalled that if any irregular practice were to be detected, the National Commission for Markets and Competition would be responsible for acting and applying the corresponding sanctions. In parallel, it indicated that the exchange of information has been strengthened between the ministry it heads, the Ministry for Ecological Transition and the Demographic Challenge, and the CNMC itself.
Impact on inflation
In relation to price evolution, Cuerpo anticipated that inflation could be affected in March by the increase in energy prices “without a doubt and significantly”. The minister explained that this month's figures will be compared with those of March 2025, which “was a month of good performance for energy prices”. Therefore, the current increase could be perceived with greater intensity due to the so-called base effect compared to last year.
Nevertheless, he/she pointed out that it will be key to observe how long this rise lasts and analyze “to what extent medium and long-term inflation expectations become unanchored from 2%”, the target set by the European Central Bank.
