The week began with a rise in fuel prices, as predicted. Both diesel and gasoline became more expensive, with the increase being more pronounced for diesel.
The price of simple diesel rose from 1.535 euros per liter to 1.602 euros per liter between Friday and Monday, an increase of 6.7 cents.
Meanwhile, the price of simple 95 gasoline increased from 1.691 euros per liter to 1.715 euros per liter in the same period, up by 2.4 cents.
These calculations are based on the average prices updated daily by the Directorate-General for Energy and Geology (DGEG).
See the chart:
It should be noted that the forecasts pointed to a strong rise in fuel prices, more heavily for diesel, which indeed occurred.
Estimates announced by the Automóvel Club de Portugal (ACP) on Friday indicated a diesel price increase of eight cents and a gasoline increase of three cents per liter.
Fuel prices are surging, and forecasts for the near future are not encouraging, as escalating tensions in the Middle East directly affect prices. Economist João Santos believes the government must act, as fuels may reach two euros per liter.
Fuel prices are more expensive this Monday. Economist João Santos believes the government must act since fuels may reach two euros per liter.
Beatriz Vasconcelos | 08:33 – 23/06/2025
“Fuel prices rise significantly today, due to the increasing tension currently occurring in the Middle East, particularly the direct involvement between Israel and Iran,” João Santos explained in statements to TVI.
Asked about the possibility of fuel prices exceeding two euros per liter this summer, the economist admits it’s possible but “not soon.”
“Everything depends on how fast this conflict evolves. Everything is happening very quickly, so it’s possible it could happen, although I consider it unlikely, but we might see such a scenario after the summer,” João Santos explained.
However, the economist believes that the “government cannot remain inactive,” as we are going through a “complex period of economic stagnation” and fuels “consume part of the income of families and businesses.”
What is known so far is that the minister of State and Finance, Joaquim Miranda Sarmento, assured on Friday that the Executive of Luís Montenegro is “monitoring the situation” regarding the increase in oil prices due to the Middle Eastern conflict, pointing out that they will act with mitigation measures in diesel and gasoline prices “if necessary.”
However, on Monday, the minister of the Presidency stated that the government is monitoring fuel price developments but considers that for now, the impacts are “largely potential,” not ruling out taking measures if there are “simultaneously very significant and lasting” increases.
Asked by journalists if the government considers taking measures in light of the rising fuel prices, the minister of the Presidency said “there was no deliberation on this matter” at today’s Council of Ministers, but that the evolution of the international situation was discussed “in various contexts.”
