Fuel prices in Portugal will continue to rise and the next increase will be on Monday. According to SIC’s accounts, the price of diesel is expected to increase by 25 cents per liter and that of gasoline by 15 cents.
Every week a new increase. The latest, Monday, sent fuel prices to unprecedented highs and sparked a rush to service stations, with petrol rising an average of eight cents per liter and diesel 14 cents per litre.
While we thought it could no longer rise, a source in the sector assures SIC that the next price movement will again be very important: without specifying values, it only confirms that the rise will be higher than this week.
Given the current price of crude oil, an increase of 25 cents per liter for diesel and 15 cents per liter for gasoline could be on the table, values that already include the reduction in the tax on petroleum products.
Since Russia invaded Ukraine, oil prices have exploded: the barrel of “brent”, which serves as a benchmark for Europe, was once at 139 dollars. However, it has eased off a bit, but analysts warn that the rise has not stopped.
The war may be one of the explanations for the rampant rise in fuel prices in Portugal, but it is not the only factor.
The successive increases, 10 since the beginning of the year, are already having an impact on production and distribution costs, with repercussions on the increase in raw material costs.