Fuel prices in Portugal will continue to rise and the next increase will be on Monday. According to SIC’s calculations, the price of diesel should rise by 25 cents a liter and gasoline by 15 cents.
Every week, a new increase. Another on Monday pushed fuel prices to unprecedented levels and sparked a rush to gas stations, with gasoline rising by eight cents a liter and diesel by 14 cents a liter.
When it was believed that it could not rise any further, an industry source assured SIC that the next price movement will be very significant again: without specifying values, it is only confirming that the increase will be higher than this week.
Taking into account the current price of crude oil, an increase of 25 cents per liter for diesel and 15 cents per liter for gasoline may be subtracted, values that already include the tax cut on petroleum products.
Since Russia invaded Ukraine, oil prices have skyrocketed: the price of a barrel of Brent, a benchmark for Europe, was once $139. However, it has subsided a little, but analysts warn that the rise has not stopped.
The war may be one explanation for the rampant rise in fuel prices in Portugal, but it is not the only factor.
The consecutive increases, 10 since the beginning of the year, are already having an impact on production and distribution costs, with implications for the increase in raw material costs.