Good news for your wallet! Fuel prices are expected to decrease again next week.
This positive trend means you can anticipate paying less at the pump. According to recent data, the price of diesel, a widely used fuel in Portugal, is projected to fall by two cents per liter. Simultaneously, regular 95 petrol is expected to become half a cent cheaper.
Based on the average prices observed at the pumps on Monday, as reported by the Directorate-General for Energy and Geology (DGEG), you should expect to pay around €1.584 per liter for regular diesel and €1.659 per liter for regular 95 petrol. This upcoming week marks the second consecutive week of price drops for diesel and the third for petrol.
Last week, diesel prices decreased by 2.8 cents, and petrol prices dropped by 1.4 cents. But here's where it gets controversial... This decrease could have been even more significant. The government adjusted fuel taxation and reduced the discount on the Tax on Petroleum Derivatives (ISP), seemingly taking advantage of the anticipated price drop.
Consequently, from December 1st, the ISP on petrol will be 49.7 cents, up from the previous 48.12 cents, and on diesel, it will be 36.16 cents compared to the previous 33.72 cents. This means you'll now pay 65 cents in ISP and carbon tax for each liter of petrol (an increase of 1.6 cents), and 52.83 cents for each liter of diesel, which is 2.4 cents more. Remember that a 23% VAT is also applied to these taxes.
What are your thoughts on the government's approach to fuel taxation? Do you believe it's a fair way to manage fuel prices, or should they have allowed the full price drop to benefit consumers? Share your opinions in the comments below!
