Fuel prices are not letting up and are going up again this week. ISP relief only offers a discount on diesel

The price of diesel and gasoline rose again this week, after falling for the first time this year, by 15 and 12 cents respectively, according to data from the General Directorate of Energy and Geology ( DGEG).

“The evolution of quotations in euros indicates a price increase of 8 cents per liter for gasoline and 17 cents per liter for diesel,” a source from one of the main national oil companies told Multinews.

In the same vein, the prices of petrol stations next to hypermarkets follow the market trend. “The trend this week will be an increase of 0.0838 euros for gasoline and a decrease of 0.1668 euros for diesel,” said another source.

The appreciation of the price of oil on international markets contributes to the rise in prices. The barrel of Brent, a benchmark for Europe, was trading below $100 two weeks ago, but last week it was already worth more than $118 a barrel, an appreciation of more than 10%.

It should be recalled that in order to reduce the price of fuel, the Government has decided each week to adjust the rate of the ISP according to the increase in VAT receipts.

According to forecasts by the Ministry of Finance, the the price of a liter of diesel should increase by 16.4 cents next week and the price of gasoline by six cents. These values, will result in a reduction of 1.3 cents per liter in the FAI tax on diesel, with no reduction on gasoline because the variation in the price per liter of this fuel is estimated to be less than eight cents.

Filling the car’s tank costs 20 euros more than in January

Since the start of the year, fuel prices have risen 11 times and fallen only once, according to the DGEG. During this period, the price of diesel increased by 34 cents per litre, while gasoline prices were 25 cents higher. This means that filling a 60 liter diesel tank costs 20 euros more than twelve weeks ago. To refuel, it takes 15 euros more than the first week of January.

This week, and already taking into account the drop in the ISP, the bill increases respectively by 4 and 9 additional euros.

DGEG data shows that the average price of a liter of straight diesel in Portugal is currently €1,840 per litre, while that of straight 95 petrol is worth €1,919.

The latest fuel bulletin from the European Commission indicates that Portugal has the seventh most expensive gasoline 95 of the 27 countries of the European Union, 10 cents above the European average and 22 cents more expensive than in Spain. Diesel occupies the 9th position in the European ranking.

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