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Surprise: The fuel should go down next week.  maybe a lot

Surprise: The fuel should go down next week. maybe a lot

Negotiations between Russia and Ukraine generate positive expectations in the markets: oil has fallen in recent days, at 98 dollars today, while a little more than a week ago it was close to 140. This is still not reflected in gas stations. But it will be reflected. The data indicate a decrease, possibly in double digits

after Two weeks with an amazing riseFuel prices are expected to drop next Monday, if not sooner.

The development of oil prices in the last few days is pointing to a strong drop like the last two big hikes. Maybe in double digits, a dime or more less per liter. That still depends on the next couple of days of oil trading, but the already cumulative drop in price in the past few days is strong enough to increase the likelihood of a drop in average cost this week.

The price of oil at the beginning of Wednesday afternoon remained below $ 100 a barrel, after the Brent and West Texas Intermediate indices closed on Tuesday 22% below the peak of March 8, which recorded the highest value of crude oil in 14 years. Then the barrel of oil crossed the $140 per barrel mark.

The basis for this trend, now declining, is mainly the war in Ukraine, although there are also good indications of increases in stockpiling in the United States. In recent days, financial markets have begun to look more optimistically at the peace negotiations between Russia and Ukraine, which this Wednesday saw new chapters: even if a peace agreement seems so far fetched, Officials from both countries are now acknowledging progress.

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The drop in the price of oil will have a direct impact on gasoline. if a file The price of diesel increased by an average of 30 cents in Portugal and gasoline by about 20 centsthe next few days are expected to point to a decline in the opposite direction, which could ease a third to a half of the highs of early March.

The biggest drop will likely happen next Monday. Not because it is the fixed day of the week that prices rise and fall, which actually vary every day, but Because this is the practice of the market in Portugal.

If this relief is confirmed, it will be good news for Portuguese motorists. That still depends on how oil changes over the next couple of days – but also on subsequent developments in the conflict in Ukraine. This depends, of course, on the gas companies themselves, which are free to set prices.

Despite the drop in oil prices for several days, gas stations raised fuel prices again on Tuesday, exacerbating the high increase on Monday. According to data from the Directorate General of Energy and Geology, on Tuesday, gasoline in mainland Portugal rose on average by another 0.9 cents, with an average price of 2037 euros. Diesel increased by 1.2 cents on Tuesday, with an average price in Portugal of €199. On the same day, the oil went down.