Be prepared to shell out a few extra euros to top up your car deposit. Fuel prices are rising again this week, becoming more expensive from this Monday. “The evolution of quotations in euros indicates a price increase of 2.5 cents per liter for gasoline and three cents per liter for diesel,” a source from one of the main national oil companies told Multinews. .
The prices of petrol stations next to hypermarkets follow the market trend. “The trend this week will be up 0.0225 euro for petrol and up 0.0281 euro for diesel,” added another source.
This is the ninth consecutive week of increase since the beginning of the year, according to data from the Directorate General for Energy and Geology (DGEG). During this period, the price of diesel has already increased by 16 cents per liter while that of gasoline has become 15 cents more expensive – and that without this week’s updates.
Analysts expect the upward trend to continue. Firstly because oil has not been as expensive since 2014. A barrel of Brent, a benchmark for Europe, is quoted at 100 dollars and experts suggest that the barrel will reach 120, reflecting the worsening of the conflict between Ukraine and Russia, the second largest oil producer after Saudi Arabia.
Recharging the deposit has become up to 10 euros more expensive in eight weeks
Thus, filling a 60-litre petrol tank now costs 9 euros more than in the first week of January. To fill up with diesel, it takes 10 euros more than eight weeks ago.
DGEG data shows that the average price of a liter of simple diesel in Portugal currently costs 1,660 euros per litre, while that of simple 95 petrol is worth 1,816 euros, but there are already stations charging more than 1, 9 euros per liter (see below). At the same time, the 95 liter of special gasoline already exceeds two euros at several stations in the country.
The latest fuel bulletin from the European Commission indicates that Portugal has the seventh most expensive gasoline 95 of the 27 countries of the European Union, 10 cents above the European average and 22 cents more expensive than in Spain. Diesel occupies the 9th position in the European ranking.