This week begins with changes in fuel prices, but only for diesel, as the price of gasoline is expected to remain unchanged.
Sources in the sector consulted by the Automóvel Club de Portugal (ACP) reveal that the price of diesel is expected to drop by 1.5 cents. Meanwhile, the price of regular 95 gasoline should stay at last week’s levels.
If predictions are confirmed, “the average price of regular diesel should decrease to 1.538 euros per liter, while regular 95 gasoline will remain at 1.693 euros per liter,” according to the ACP.
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, while gasoline was valued at 1.693 euros.”
The ACP noted that “these forecasts are based on the assumption of the continuation of extraordinary fiscal reduction measures applied by the government to mitigate price increases.”
“The measures in place include a reduction of the Tax on Petroleum Products (ISP) and compensation for the additional revenue from VAT,” it added.
Where is it cheapest to refuel?
According to data from the Directorate-General for Energy and Geology (DGEG), these are the cheapest gas stations in the country:
The cheapest gas stations in Portugal© Reprodução do site da DGEG
To check for the cheapest gas stations near you, you can visit this link and select the option ‘filter by municipality’ at the top, then click on the respective district in the list that will appear. Finally, you should select the municipality you wish to consult, as well as the type of fuel.
How is oil performing in international markets?
The price of Brent crude for October delivery fell on Friday by 1.48% to 65.85 dollars just before the bilateral meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin in Alaska.
Donald Trump reportedly told Zelensky and other European leaders that “he wishes to hold a trilateral summit quickly, already on August 22,” after meeting with Putin in Alaska.
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The North Sea crude, a benchmark in Europe, closed down 0.99 dollars on the Intercontinental Exchange compared to the last trading day, when it was at 66.84 dollars.
Brent lost ground and closed slightly above 65 dollars per barrel, minutes before the meeting between Trump and Putin at Elmendorf-Richardson military base in Anchorage, Alaska, to discuss relations between Washington and Moscow and a possible end to the war in Ukraine.
The market is closely watching the meeting, which investors fear may end without any progress, leading to new sanctions and tariffs on Russia’s oil infrastructure and major oil importers.
