Starting August 10, fuel prices in Portugal are expected to decrease significantly, with diesel dropping by approximately 12 cents and petrol by 12.5 cents per litre. This change will bring average diesel prices to around 1.931 euros and petrol to 1.855 euros. However, these figures are subject to change based on fluctuations in crude oil prices leading up to the weekend.
The anticipated price drop comes as a relief for drivers, especially as current prices are notably higher, with diesel at 2.051 euros and petrol at 1.980 euros. The pricing structure in Portugal is liberalised, meaning that consumers may see variations at different filling stations.
This decrease is partly influenced by the ongoing conflict in the Middle East, which has caused significant volatility in global oil prices. The blockade of the Strait of Hormuz, a critical passage for oil transport, has further complicated the situation, leading to unpredictable fuel costs.
In response to rising fuel prices, the Portuguese government has implemented temporary tax cuts on fuel when prices exceed certain thresholds. This proactive measure aims to cushion consumers from the impacts of international market fluctuations, ensuring that any price increases are mitigated effectively.
Source: Euronews
