This week began with an increase in fuel prices, observed in both diesel and gasoline, as per the latest average prices updated on Monday by the Directorate-General for Energy and Geology (DGEG).
The price of simple 95 gasoline rose from last Friday’s 1.692 euros per liter to 1.697 euros per liter this week, marking an increase of half a cent.
Diesel, on the other hand, increased from 1.537 euros per liter to 1.545 euros per liter during the same period, reflecting an increase of 0.8 cents.
The forecasts had pointed to a half-cent rise in both diesel and gasoline prices.
“Next week is expected to bring further changes in fuel prices, with predictions indicating an increase in both diesel and gasoline prices. According to industry sources, both diesel and gasoline prices are expected to rise by 0.5 cents,” stated the ACP.
Currently, according to the Directorate-General for Energy and Geology (DGEG), “the average price per liter of diesel in Portugal was 1.537 euros this Friday (August 22), while the average per liter of gasoline was 1.691 euros.”
“If the forecasts for next week are confirmed, the average price of simple diesel should increase to 1.542 euros per liter (€/l). Meanwhile, the average price of simple 95 gasoline will rise to 1.696 €/l,” it reads.
The ACP indicated that “these forecasts are based on the assumption that the government’s extraordinary tax reduction measures to mitigate price hikes will remain in effect, including the reduction of the Petroleum Products Tax (ISP) and compensation for additional VAT revenue.”
Graph: What happened to fuel prices this week
Fuel price evolution© Reprodução do site da DGEG
How is Brent doing?
The price of Brent crude oil for October delivery rose by 1.51%, reaching $68.75, a level not seen since August 6 on Monday in the London futures market.
The North Sea crude, a benchmark in Europe, recorded its fourth consecutive session of gains on the Intercontinental Exchange, closing $1.02 above the $67.73 mark reached at the close of transactions on Friday.
The price of Brent crude oil for October delivery rose today in the London futures market by 1.51%, to $68.75, a level not seen since August 6.
Lusa | 21:05 – 25/08/2025
In the last four sessions, Brent has appreciated by 4.5%, following the summit between the Presidents of the U.S. and Russia.
Market analyst Javier Cabrera believes that the intensification of Russian attacks on Ukraine is preventing oil prices from falling.
On Monday, it was reported that Saudi oil exports decreased by 15.8% year-on-year in the second quarter, nearly double the 8.4% decline in the first quarter, while other exports increased by 17.8%, totaling $62.43 billion (53.8 billion euros).
The Saudi General Authority for Statistics highlighted that China remains its main trading partner, accounting for 14.2% of its foreign trade, followed by the United Arab Emirates (10%) and India (8.8%). The top 10 partners also include South Korea, Japan, Egypt, the U.S., Bahrain, Malta, and Poland.
