The week begins with mixed behavior in fuel prices: diesel is expected to become slightly more expensive, while gasoline is expected to see a price reduction, according to forecasts released on Friday by the Automóvel Club de Portugal (ACP).
Specifically, forecasts indicate an increase of half a cent for diesel and a decrease of one cent for gasoline.
“If the forecasts for next week are confirmed, the average price of regular diesel will be set at 1.567 euros, and that of regular gasoline 95 at 1.703 euros,” states the ACP.
Where is it cheaper to refuel?
© DGEGTo find the cheapest gas stations near you, you can visit this link and select the ‘filter by municipality’ option at the top, then click on the respective district from the presented list. Finally, select the municipality you wish to consult, as well as the type of fuel.
What is the situation with oil on international markets?
The price of Brent crude for November delivery ended on Friday on the London futures market up 1.02%, at $70.13.
The North Sea crude, a European benchmark, closed the session on the Intercontinental Exchange trading at 71 cents above the $69.42 it ended at on Thursday.
Today marked the short consecutive day where crude finished in the positive, concluding the week above $70, a level not seen since the end of July.
The recent upward trend is attributed to Ukrainian drone attacks on Russian energy infrastructure, such as the incident at the Afipski refinery in southwest Russia, which caused a fire at the facility and disrupted export flows.
Practically, forecasts are pointing to a half-cent increase for diesel and a one-cent decrease in gasoline prices, according to the ACP.
Beatriz Vasconcelos | 09:24 – 28/09/2025
IEA considers forecasted oil reserve increase unsustainable
Earlier this month, the International Energy Agency (IEA) stated that the forecasted increase in oil reserves “is unsustainable” after production reached a peak in August and OPEC decided on a new increase for October.
In its monthly market report, the IEA estimates that in the second half of the year, global reserves will grow on average by 2.5 million barrels per day, due to supply substantially exceeding demand.
In July alone, reserves increased by 26.5 million barrels, marking the sixth consecutive month of expansion, accumulating an additional 187 million barrels since the beginning of the year.
The situation risks worsening with the decision, made last Sunday, by the Organization of the Petroleum Exporting Countries and its partners (OPEC+), unless a shift occurs that alters current market imbalances due to geopolitical tensions, trade policies, or new sanctions against Russia or Iran, according to the report’s authors.
OPEC+ agreed on Sunday to a new increase in crude oil production for October by 137,000 barrels per day, an increase that is smaller than those applied in recent months due to weakening global demand.
The IEA notes that a new record in crude oil demand was reached in August, with 106.9 million barrels, and now estimates that, for the year as a whole, it will average 105.8 million barrels per day, which is 2.7 million barrels per day more than in 2024, 1.3 million barrels per day of which will come from OPEC+.
For 2026, it is estimated that the increase will be an additional 2.1 million barrels per day, reaching 107.9 million barrels per day, with one million barrels per day coming from additional OPEC+ production.
