The weekend brings warmth and the upcoming week brings good news for drivers, as fuel prices are set to drop, according to forecasts released this Friday by the Automóvel Club de Portugal (ACP). This price relief follows a sharp increase at the beginning of this week.
Diesel is expected to become four cents cheaper, while gasoline prices are projected to decrease by 3.5 cents, as estimated by the ACP, citing industry sources.
These reductions come after increases earlier in the week, which saw a rise of 6.7 cents for diesel and 2.4 cents for gasoline, based on average prices published daily by the Direção-Geral de Energia e Geologia (DGEG).
Fuel prices increased significantly at the beginning of this week. The rise was more pronounced for simple diesel, which now stands at 1.602 euros per liter, up by 6.7 cents from Friday.
Beatriz Vasconcelos | 08:04 – 24/06/2025
The steep increase earlier this week was driven by escalating conflicts in the Middle East, which spiked oil prices on international markets. However, this trend began to ease as the week progressed.
On Thursday, it was noted, the price of Brent crude for August delivery ended up at 67.73 dollars on the London futures market, a 0.07% increase, on a calm day after highly volatile sessions. The North Sea crude, a benchmark in Europe, closed the day at the Intercontinental Exchange trading at five cents above the 67.68 dollars reached in Wednesday’s transactions.
The slight rise was partly due to a greater-than-expected drop in U.S. oil reserves, reinforcing the perception of strong demand in the world’s largest economy.
The ceasefire between Iran and Israel also helped stabilize short-term expectations, leading investors to focus on market fundamentals, namely the relationship between supply and demand during the high consumption season.
Earlier this week, it was recalled, the Minister of the Presidency stated that the Government is monitoring the evolution of fuel prices, but considers that for now the impacts “are largely potential,” not ruling out measures if there are “simultaneously very significant and durable” increases.
António Leitão Amaro emphasized, however, that the Government is attentive and monitoring price developments, assuring that if there are “increases that are simultaneously very significant and durable, the Government will naturally take measures to that effect.”
The Government is monitoring the evolution of fuel prices but considers that the impacts “are largely potential” for now, not ruling out taking measures if there are “simultaneously very significant and durable” increases, said the Minister of the Presidency on Monday.
Lusa | 18:00 – 23/06/2025
