Lanzarote is currently seeing petrol prices that are more than 25% cheaper compared to twelve months ago. This makes the island the cheapest in the Canary Islands for fuel for the fourth month in a row.
Despite a slight price increase in June, rising from €1.002 per litre in May to €1.036, due to the impact of the conflict between Israel and Iran, fuel costs remain significantly below last year’s figures.
According to data from the Canary Islands’ Directorate-General for Industry and Energy, the average price of 95-octane petrol in Lanzarote now stands at €1.210 per litre, down 20.1% from June 2024.
Diesel is also considerably cheaper, currently priced at €1.021 per litre, 24.9% less than the same time last year.
The ongoing drop in fuel prices has been largely attributed to the arrival of low-cost petrol stations on the island over the past year. As a result, Lanzarote has consistently recorded the lowest petrol prices in the region, which in turn has excluded it from accessing the fuel subsidies introduced by the regional government for non-capital islands.
At present, Lanzarote’s average fuel price stands at €1.110 per litre, lower than both Tenerife (€1.140) and Gran Canaria (€1.143), as well as Fuerteventura, where it has risen to €1.247.
Prices are higher still on the smaller islands, reaching €1.334 in La Gomera, €1.315 in La Palma, and €1.409 in El Hierro due to the extra cost of getting it there, and the smaller quantities they consume.
