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Fuel will go up again (strongly) next week

Fuel will go up again (strongly) next week

Prepare to pay a few extra euros to increase your car deposit. Fuel prices will rise again next week, and will become more expensive as of Monday. “The evolution of quotations in euros indicates an increase in prices of 2.5 cents per liter for gasoline and three cents per liter for diesel,” a source from one of the major national oil companies told Multinews.

Prices of gas stations adjacent to the hypermarket follow the trend of the market. Another source added, “The trend this week will be an increase of 0.0225 euros in gasoline and an increase of 0.0281 euros in diesel.”

This is the ninth consecutive week of increases since the beginning of the year, according to data from the Directorate General of Energy and Geology (DGEG). In this period, the price of diesel has already increased by 16 cents a liter, while the price of gasoline has increased by 15 cents – and this is without updates next week.

According to analysts, the uptrend is set to continue. First, because oil has not been very expensive since 2014. The price of a barrel of Brent crude, the reference for Europe, is $ 100 and experts suggest that a barrel can reach $ 120, which reflects the aggravation of the conflict between Ukraine and Russia, secondly. It is the largest oil producer after Saudi Arabia.

Deposit increases become more expensive by up to €10 in eight weeks

Thus, filling a 60-liter tank with gasoline now costs 9 euros more than it did in the first week of January. To fill up a diesel tank, it takes 10 euros more than it did eight weeks ago.

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DGEG data shows that the average price of a simple diesel in Portugal is currently 1,660 euros a liter, while the price of a simple 95 petrol is 1,816 euros, but there are already stations that charge more than 1.9 euros a liter (see below). At the same time, a liter of special 95th gasoline has already exceeded 2 euros at several stations in the country.

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