Fuel prices will skyrocket – so take the opportunity to fill up this weekend

A liter of diesel, the most widely used fuel in Portugal, should rise by six cents, and gasoline by half a cent, a market source told the Economic Cooperation Organization.

From Monday, when you go to refuel, you will have to pay 1,812 euros per liter of simple diesel and 1,884 euros per liter of simple 95 gasoline, taking into account the average values ​​observed at the pumps on Monday, published by the General Directorate of Energy and Geology ( DGEG). You have to go back to November 7 last year to find the diesel price at higher values.

These prices already take into account discounts applied by gas stations and a review of temporary tax measures to help mitigate the rise in fuel prices. The government maintained the fuel subsidy that was in effect in August, despite the price rise, which represented an increase in the carbon tax on diesel by 2 cents and by 1.8 cents on gasoline compared to July.

Prices may also be subject to changes to take into account closing Brent crude oil prices on Friday and foreign exchange market behavior. But also because the final prices result from the average values ​​charged by all gas stations. It is important to remember that prices charged to the end consumer may vary depending on the gas station.

This development in fuel prices comes after diesel prices rose by 3.2 cents this week and gasoline prices fell by 1.3 cents. Behaviors close to market expectations, which indicated an increase of four cents in diesel and a decrease of one cent in gasoline.

Prices are heading for the third consecutive week of gains. Crude oil prices reached their highest levels this year on Thursday, as concerns about supply shortages overshadowed an economic slowdown and rising inventories in the United States. Brent crude prices, which serve as a reference for the European market, rose 0.42% on Friday to $94.09 per barrel.