Since last July 1st VAT on oil has dropped to 0%. This measure generated a lot of expectacinsince the price of this product had been rising to very high levels for years. Oil, with this measure, falls into the group of basic foodsalong with others such as eggs or milk, which also have 0% VAT.
VAT on oil rise to 2% between October and December, and from 2025 rise to 4%becoming forever part of the group of foods with super-reduced VAT. Previously, oil had a 10% VAT.
Predictions were made about what would happen to the price of oil, how much it would drop according to the supermarket. Well, two days after the measure came into effect, we can say that, on average, the price of oil has dropped by 50 cents per litre.
The FATHER is carrying out a Close monitoring of oil pricesbased on the prices of mild and extra virgin olive oils, white brands and top brands such as Carbonell and Maestros Hojiblanca, in 8 supermarkets (Ahorrams, Alcampo, Carrefour, Dia, El Corte Inglés, Lidl, Mas, Mercadona) in Madrid and Seville.
They warn that the average of The reduction is 50 cents per litrealthough in branded oils the decrease is somewhat higher, 90 cents. Entering the division by supermarkets, Alcampo is the winner (or the loser, depending on how you look at it), since the price drop in its supermarkets is by far the largest, with an oil whose cost is 1.41 euros less a month ago.
In almost all other supermarkets the price has also dropped, although not as much as in Alcampo. Then, there is a curious case which is that of We savesince in this supermarket Oil was cheaper before July 1, probably because they had some offer that has now ended.
Price variations in the 8 supermarkets included by OCU:
| Supermarket | June 2024 (price in ) | July 2024 (price in ) | Difference |
|---|---|---|---|
| We save | 9,06 | 10,85 | +1,79 |
| Alcampo | 11,30 | 9,89 | -1,41 |
| Carrefour | 11,88 | 1,33 | -0,55 |
| And | 10,43 | 9,93 | -0,5 |
| The English Court | 11,59 | 10,87 | -0,72 |
| Lidl | 8,82 | 8,39 | -0,43 |
| Ms | 9,12 | 8,48 | -0,64 |
| Mercadona | 8,83 | 8,41 | -0,42 |
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