The regional government also decided to “reduce” the extraordinary tax deduction for petroleum products (ISP), a measure that was initially intended to stem the rise in road fuel prices.
After the onset of the conflict between Russia and Ukraine, oil barrel prices have recently followed a more stable path, so the CEO of Maderan will “change” the ISP for unleaded 95th gasoline. With regard to diesel, the government led by Miguel Albuquerque is not moving.
The price of 95 unleaded petrol and diesel will be the same on Monday.
In fact, despite the ISP change, the price of gasoline will rise by just 0.8 cents per liter next week compared to the average price charged the previous week. In the case of diesel, the regional government again maintained the ISP rate, contrasting with the increase in the selling price to the public of 1.4 cents per liter.
The commitment made by the Regional Government with regard to monitoring fuel prices and the crude oil market, was that, within the budget possibilities, measures would be taken to ensure fiscal neutrality in the final sale price to the public. This means that the government has undertaken to offset the impact of the increase in raw materials, by reducing the ISP. This is what has been guaranteed for several months now, which is an estimated budget impact of more than €19 million in lost revenue, through the end of the year.
Provincial government
“Given the stability of the price of a barrel of oil, which has been verified in recent weeks, and since fiscal neutrality goes both ways, ISP rates have been adjusted, in a week in which this adjustment does not cause significant impacts on the final price to be paid. ‘, in response to DIÁRIO’s request.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.