The prices of fuels are expected to reflect mixed trends at the start of next week. The Automobile Club of Portugal (ACP) indicated on Friday that diesel prices are projected to rise, while gasoline prices are anticipated to fall.
Forecasts suggest a 1.5-cent increase for diesel and a half-cent decrease for gasoline.
Currently, regular diesel costs 1.589 euros per liter, while regular 95 gasoline costs 1.706 euros per liter, as reported by the Directorate-General for Energy and Geology (DGEG) on the website “Preços dos Combustíveis Online”.
These average daily prices “are calculated based on the prices reported by fuel stations, weighted with the volumes sold in the last known period, incorporating discounts like fleet cards and others,” noted DGEG.
How is oil performing in international markets?
The Brent barrel price for January delivery ended Thursday in the London futures market down by 0.22% to 63.38 dollars.
North Sea crude, a benchmark in Europe, closed at the Intercontinental Exchange trading at 14 cents below the 63.52 dollars closing price on Wednesday.
Brent continued negatively due to ongoing weakness in global demand, particularly in the US and China.
This structural factor was compounded by the appreciation of the dollar and OPEC+’s decision to increase its production by 137 thousand barrels per day in December, maintaining this output at least during the first quarter of 2026.
OPEC+ includes members of the Organization of the Petroleum Exporting Countries, along with allies like the Russian Federation.
Reversal of the ISP discount will be “as gradual as possible”
The removal of the current discount on the Tax on Petroleum and Energy Products (ISP) in 2026 will occur as “gradually as possible” to avoid impacting the final fuel price, assured the Finance Minister.
During the discussion on the 2026 State Budget proposal (OE2026) in the Budget, Finance and Public Administration Committee in Parliament, Minister Joaquim Miranda Sarmento highlighted that the reversal of state support is an obligation of the European Commission, due to a “temporary discount created in 2022,” when oil prices reached “120-130 dollars, whereas today it stands at 60 dollars”.
“The reversal of the ISP discount will always be as gradual as possible, so as not to affect the final gasoline and diesel prices,” affirmed Miranda Sarmento, when queried by Chega deputy Pedro Pinto on whether the reversal would be gradual or if there would be a 100% cut in the discount.
The minister reiterated that the discount is temporary by nature and emphasized that its elimination will occur “as much as possible,” aiming to “protect the fuel prices at the pump.”
“Except for Spain, Portugal does not have fuel prices much higher than most Eurozone countries,” he added.
