Next week will bring changes in fuel prices, but only for diesel, as gasoline prices are expected to remain stable.
Industry sources indicate that the price of diesel is expected to drop by 1.5 cents. Meanwhile, unleaded 95 gasoline is expected to stay at current levels.
“If the forecasts for next week are confirmed, the average price of simple diesel is expected to decrease to 1.538 euros per liter, while unleaded 95 gasoline will remain at 1.693 euros per liter,” according to the ACP website.
This comes at a time when, “according to the Directorate-General for Energy and Geology (DGEG), the average price of a liter of diesel in Portugal was 1.553 euros on Thursday (August 14), whereas gasoline was 1.693 euros.”
The ACP notes that “these forecasts are made based on the assumption that the government’s extraordinary measures for tax reduction, aimed at mitigating price increases, remain in place.”
“The measures in force include the reduction of the Oil Products Tax (ISP) and the compensation of the additional VAT revenue,” it states.
Unleaded 95 gasoline decreased from 1.706 euros per liter to 1.696 euros per liter between Friday and Monday, while simple diesel dropped from 1.586 euros per liter to 1.559 euros per liter in the same period.
Beatriz Vasconcelos | 10:11 – 12/08/2025
How is the oil market?
The price of Brent crude for October delivery fell by 0.74% to 65.63 dollars in the London futures market on Wednesday.
The North Sea crude, a benchmark in Europe, closed the session on the Intercontinental Exchange trading 0.49 dollars below the 66.12 dollars seen at the close of Tuesday’s transactions.
Brent lost ground after the International Energy Agency (IEA) issued a report warning that additional oil production by the Organization of the Petroleum Exporting Countries (OPEC) and allies risks destabilizing the crude market.
The IEA has lowered its global consumption estimates to an average of 103.737 million barrels per day (mbd) for 2025, 20 thousand barrels less than previously projected in July.
Meanwhile, OPEC has slightly revised upwards its forecast for global crude demand in 2026 this week, although projections for 2025 remain unchanged.
This decision reinforced the group’s optimistic outlook, which has been advocating for the production increases implemented monthly since April to reverse the voluntary cuts adopted in 2023.
Investors continue to await the scheduled talks between US President Donald Trump and Russian President Vladimir Putin on Friday in Alaska regarding the war in Ukraine, a situation impacting oil markets since February 2022.
US Treasury Secretary Scott Bessent warned that if the meeting does not succeed, further sanctions or secondary tariffs on Moscow could be imposed, a stance supported by around 30 leaders in a joint videoconference with Trump.
[News updated at 10:24]
