Be prepared to shell out a few extra euros to top up your car deposit. Fuel prices are on the rise again this week, becoming more expensive starting today.
“The evolution of quotations in euros indicates a price increase of 8 cents per liter for gasoline and 14 cents per liter for diesel,” a source from one of the main national oil companies told Multinews. As far as diesel is concerned, this is the strongest weekly increase ever recorded.
The prices of petrol stations next to hypermarkets follow the market trend. “The trend this week will be an increase of 0.0724 euros for gasoline and an increase of 0.1331 euros for diesel,” said another source.
This is the tenth 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 32 cents per liter while that of gasoline has become 25 cents more expensive.
Recharging the deposit costs between 14 and 19 euros more expensive
This means that filling a 60 liter petrol tank costs 14 euros more than the first week of January. To top up a diesel tank, it will take 19 euros more than ten weeks ago. In the last week alone, the bill has increased by 5 and 8.5 euros respectively.
DGEG data shows that the average price of a liter of straight diesel in Portugal is currently €1,678 per litre, while that of straight 95 petrol is worth €1,836. But with the expected increases, single fuels are reaching all-time highs. The average price of a liter of diesel costs approximately 1,818 euros and that of gasoline rises to 1,916 euros. At the same time, the 95 liter of special gasoline already exceeds two euros at several stations in the country.
Contributing to higher prices is the increase in the price of oil in international markets. Brent crude, a benchmark for Europe, is quoted above $110, a 2013 high, and experts suggest the barrel will hit $140, reflecting the worsening conflict between Ukraine and Russia, second oil producer, after Saudi Arabia.
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.