According to an ordinance published on Friday night in the Diário da República, which comes into effect on Monday, the ISP rate applicable in mainland Portugal for gasoline with a lead content equal to or less than 0.013 grams per liter will be 497.52 euros per 1,000 liters, compared to the current 481.26 euros.
Meanwhile, the ISP rate for diesel will rise from the current 337.21 euros to 361.60 euros per 1,000 liters.
According to the estimates by the Automóvel Club de Portugal (ACP), these amounts translate to an effective tax increase per liter of approximately 1.6 cents for gasoline and more than two cents for diesel.
As such, it is noted that if a reduction of seven cents per liter for diesel and 3.5 cents per liter for gasoline was expected for next week, with the increase in ISP, these reductions are expected to be five cents and two cents per liter, respectively.
The government states that this revision is “in line with the recommendations of the European Commission,” which advocates for progressive elimination, “as the energy market evolves,” of the “exceptional and temporary” measures taken to curb the rise in fuel prices caused by the COVID-19 pandemic and the Russian invasion of Ukraine.
“In this context, this ordinance provides for the partial reversal of extraordinary and temporary measures, updating the unit rates of the ISP on gasoline and diesel, promoting the necessary gradual reversal of the temporary measures adopted under the ISP,” the decree states.
