Fuel prices have experienced adjustments at the start of the week, specifically affecting diesel, as per previous forecasts. What are the current prices?
The simple 95 gasoline remained at 1.692 euros per liter from Thursday to Monday, according to updated data from the Directorate-General for Energy and Geology on the Fuel Prices Online site.
The simple diesel, priced at 1.553 euros per liter last Thursday, is now at 1.540 euros per liter this week, based on the same data. This represents a decrease of 1.3 cents.
These daily average prices are “calculated based on prices reported by fuel stations, weighted with quantities sold during the last known period, incorporating discounts practiced at gas stations such as fleet cards and others,” as stated on the same portal.
The forecasts indicated a maintenance of gasoline prices, which has been confirmed, and a reduction in diesel prices by about 1.5 cents.
This week brings good news for diesel vehicle drivers, as prices are expected to decrease starting today. Gasoline prices are predicted to remain steady, according to forecasts released on Friday by the Automóvel Club de Portugal.
What’s happening with oil?
In the London futures market, the Brent crude barrel closed higher on Monday, amid discussions in Washington’s leadership summit addressing a negotiated solution to the Ukraine war.
The price of Brent for October delivery rose by 1.14%, reaching 66.6 dollars.
The North Sea crude, a benchmark in Europe, closed the session on the Intercontinental Exchange trading at 0.75 dollars higher than the 65.85 dollars recorded at the previous session’s end.
The Brent gained momentum as European leaders began meetings with U.S. President Donald Trump and Ukrainian counterpart Volodymyr Zelensky at the White House to discuss security guarantees for potential peace in Ukraine.
This meeting followed the bilateral summit between Trump and Russian leader Vladimir Putin on Friday in Anchorage, Alaska, which concluded with significant progress, according to the parties, but without any ceasefire agreement in Ukraine.
The market is closely monitoring the meeting’s outcome, as Forex market analyst Razan Hilal points out that crude is a key asset in negotiations between the U.S. and Russia.
However, due to the dollar’s weakness, the unlikely prospect of an immediate ceasefire in Ukraine, and with Washington’s second round of sanctions pending against countries purchasing Russian oil, Brent has withstood the price hikes.
The German chancellor stated that Russian President Vladimir Putin accepted, in a phone conversation with the U.S. President on Monday, to meet with Ukrainian counterpart Volodymyr Zelensky in the coming two weeks.
