The fuel prices are not expected to change next week. According to forecasts released on Friday by the Automóvel Club de Portugal (ACP), neither diesel nor gasoline prices should see any adjustments on Monday.
This indicates there is no advantage in waiting until Monday to refuel your car, as the prices of diesel and gasoline are expected to remain at the current levels.
As of now, the current prices, according to Direção-Geral de Energia e Geologia (DGEG), are 1.564 euros per liter for simple diesel and 1.710 euros per liter for simple gasoline 95.
These daily average prices are calculated based on prices reported by fuel stations, weighted with the quantities sold during the last known period, incorporating discounts offered at refueling stations such as fleet cards and others, as stated on the DGEG portal, Fuels Price Online.
Internationally, Brent crude oil for November delivery ended Thursday in the London futures market with a drop of 1.66%, down to $66.37, due in part to the appreciation of the dollar.
North Sea crude, the European benchmark, closed the session on the Intercontinental Exchange at $1.12 below Wednesday’s closing of $67.49.
The decline was not more pronounced, analysts noted, due to concerns about supply stability from the Middle East, which adds upward pressure to prices.
The International Energy Agency warned on Thursday that the anticipated increase in oil reserves is “unsustainable” after reaching a production peak in August and with OPEC deciding on a new increase for October. According to its monthly market report, the IEA estimates that in the second half, global reserves will grow by an average of 2.5 million barrels per day due to supply far exceeding demand.
In July alone, reserves rose 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 could worsen following Sunday’s decision by the Organization of the Petroleum Exporting Countries and its partners (OPEC+), unless there is a shift that alters current market imbalances due to geopolitical tensions, trade policies, or new sanctions against Russia or Iran, the report’s authors noted.
OPEC+ agreed on Sunday to a new increase in crude oil production for October by 137,000 barrels per day, a lower rise compared to previous months due to the weakening global demand.
The IEA recalls that in August a new record was reached in crude oil demand, with 106.9 million barrels, and now estimates that throughout the year, it will average 105.8 million barrels per day, which is 2.7 million barrels per day more than in 2024, of which 1.3 million barrels per day will come from OPEC+.
