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Fuel is getting more expensive this week.  Gasoline rises more

Fuel is getting more expensive this week. Gasoline rises more

Bad news is coming for Portuguese drivers. Fuel prices rise again this week: “The development of euro quotations indicates an increase in prices of 7 cents per liter for gasoline and 2 cents per liter for diesel,” a source from one of the major national oil companies told Multinews.

By the same token, prices of gas stations next to supermarkets follow the trend of the market. “The trend this week will be for an increase of 0.0558 euros in gasoline and an increase of 0.0299 euros in diesel,” another source said.

Given this reality, the government has set an additional tax cut on petroleum products at 1.2 cents per liter of diesel and 2 cents per liter of gasoline, effective Monday. Together with the VAT, this measure will translate into “reduction of the tax burden by 1.5 cents per liter of diesel and 2.5 cents per liter of gasoline.”

Thus, with the tax burden lower, gasoline should rise by up to 4.5 cents per liter, and diesel may increase by just over a cent this week.

And contributed to the rise in prices, the announcement of a new package of sanctions against Russia, as the European Union intends to impose a comprehensive ban on the import of Russian oil, which led to a rise in oil prices.

According to a source in the sector, the price of gasoline will rise further due to the Increase in imports from the United States, in anticipation of the beginning driving season. On the other hand, diesel is subjected to less pressure, With the end of cold temperatures in Europe, where it is widely used for heating.

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And DGEG shows that since the beginning of the year, fuel prices have increased 14 times and fallen only four times. During this period, the price of diesel increased by 34 cents a liter, while gasoline prices increased by 21 cents. This means that filling a 60-liter tank with diesel costs 20 euros more than it did sixteen weeks ago. To fill the gas tank, it takes 12 euros more than in the first week of January.

This week, taking into account the increases announced by the oil companies, the bill for the 60-liter fuel tank is up to three euros.

Data from the Directorate General of Energy and Geology (DGEG) show that the average price of a simple diesel liter in Portugal is currently 1.836 euros per liter, while the price of 95 simple gasoline is 1.871 euros. The latest fuel bulletin from the European Commission indicates that Portugal has the seventh most expensive gasoline 95 out of 27 countries in the European Union. On the other hand, diesel occupies the fifteenth place in the European ranking.