After eight consecutive weeks of decline, fuel prices are back on the rise at the beginning of this week: as a reflection of average gasoline and diesel prices on global markets, “the development of prices in euros indicates higher prices.” 95 gasoline at 2 cents per litre. An industry source told Executive Digest that diesel fuel will be 3 cents more expensive.
In the same sense, in gas stations next to the hypermarket, “the trend will be towards an increase of 0.0184 euros in 95 gasoline but also in diesel by 0.0304 euros.”
Data from the General Directorate of Energy and Geology (DGEG) shows that the average price of a liter of petrol in Portugal currently costs €1,627 while diesel costs €1,552. However, prices may vary across gas stations, as the price quoted on the network also takes into account the level of competition, supply and demand in each market and the level of fixed costs at each station.
In the past eight weeks, fuel prices have fallen significantly: petrol and diesel have fallen in value by 14.6 and 17.2 cents per liter respectively, a trend that Christmas will now face. Since January, the price of diesel has fallen by 4.2 cents, while the price of gasoline has fallen by 8 cents.
Portugal has the tenth most expensive 95 gasoline in Europe
The European Commission's latest fuel bulletin indicates that Portugal is the 10th most expensive 95 petrol in Europe, some 3.9 cents less than the European average and 9.2 cents more expensive than Spain. Diesel ranks 14th in the European rankings.
The price difference between Portugal and Spain results from the tax burden, because without taxes the price of gasoline is cheaper in Portugal. Without the tax burden, each liter of 95% gasoline in Portugal would cost 74.5 cents, meaning it would be cheaper than 79.7 cents in Spain.
Among the European Union countries, the Netherlands has the most expensive 95 gasoline on the Old Continent: 1,887 euros. Sweden “reigns” in diesel: 2016 euros.
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