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Diesel and gasoline.  Apetro puts a high price on integrating fuels and taxes - O Journal Económico

Diesel and gasoline. Apetro puts a high price on integrating fuels and taxes – O Journal Económico

The Portuguese Association of Petroleum Companies (Apetro) attributes the current level of fuel prices, higher than in 2008, even if the price of oil is lower, to the inclusion of fuel and the tax burden.

“There is a lot of speculation why with oil and refined product prices well below their 2008 peak values, pump sales prices are higher than that period,” Apetro says, in a note sent Friday.

In the same note, the association presents two charts detailing prices for the week of July 7, 2008 and June 28, 2021, concluding that “the explanation for the price increase lies in the additional cost of incorporating biofuels and, above all, in the tax burden” (ISP – Petroleum Products Tax and Tax value added – value added tax).

Apetro data shows that in the period in question in 2008, the price of gasoline was 1,517 euros and in 2021 it was 1,652 euros, with a lower price and higher taxes, as well as fuel integration costs.

Diesel has a similar behaviour, with an average price of 1,419 euros in 2008 and 1,448 euros in 2021, but with a larger price drop and a higher increase in taxes and costs with the incorporation of the fuel.

Prices for simple 95 petrol and simple diesel rose 1.2% and 2% in May to 1,639 and 1,441 euros per liter, respectively, the Energy Services Regulatory Authority (ERSE) announced on June 25.

According to the Fuel Market Bulletin – LPG for May 2021, issued by the energy regulator, the average selling price (PVP) for diesel follows the international market price, registering an increase of “2% compared to the previous month”. Gasoline is up 1.2% in the same period.

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Last year, ERSE forced bills from gas stations detailing the fees and taxes charged, the additional cost of integrating biofuels and discounts.

The ERSE regulator wanted to improve consumer information in a “clear, objective and adequate manner”, detailing information about total price, duties, taxes, additional transportation fees and even delivery costs.

The certification setting the goal of increasing the integration of biofuels to 11% in the fuel for consumption in the national territory for 2021 was published in Diário da República on January 20 and entered into force the next day.

According to the diploma “Developers [de biocombustíveis] They are obligated to contribute to the achievement of the incorporation goals”, which for this year were set at 11%.

An official source from the Ministry of Environment and Climate Action told Lusa, in December, that the biofuel incorporation target for 2021 would be 11%, compared to 10% in 2020, with the contribution remaining at 0.5%. Waste and other raw materials that are more environmentally sustainable.