Diesel costs on the decline.
Heyy there! Lashed up some fresh info on the fuel prices in sunny Portugal ☀️ Let's dive in!
According to the trusted crew at Automóvel Club de Portugal, the cost of diesel will stay put while there's a small 0.5 cent drop in store for gasoline. Now, hit the rewind button with me for a sec. As of Friday, May 30, diesel clocked in at 1.519 euros a liter, while gasoline came in at 1.682.
But wait, there's more! If the peeps at the General Directorate of Energy and Geology (DGEG) are right on the money with their predictions, the average price of regular diesel will hold steady at 1.519 euros/l, and regular 95% petrol could take a dive to 1.677 euros/l next week.
Why you might ask? The Portuguese government's launched some extraordinary tax reduction measures to escape the fuel cost surge, and if they stick to that plan, it'll help shield consumers from any potential oil price spikes.
Here's a quick rundown of factors impacting fuel prices in Portugal:
- The sun shines on the oil price outlook with forecasts pointing to Brent crude averaging around $66 per barrel in 2025. Global markets are under pressure due to uncertainty, which suggests relative stability or a tad of a downward trend in crude oil prices.
- The Portuguese government's offsetting actions, like their tax reduction measures, will keep prices in check.
- Refinery output is on track to stay steady, securing a stable supply of diesel and gasoline.
- Portugal's inflation sits at a modest 2.3%, suggesting no major demand-driven price shocks for energy products.
With the government's extraordinary measures still in play and current oil market conditions, it looks like diesel and gasoline prices in Portugal will keep dancing around the same numbers, or even taking a tiny step down for the coming week. Prices at the pump could become cha-cha-cha if the taxes take flight or international oil markets take a tumble, but for now, it's looking peachy keen! 🥥🌞
The government's tax reduction measures in Portugal, aiming to mitigate the fuel cost surge, have led to predictions of steady diesel prices at 1.519 euros/l and a potential 0.5 cent drop in gasoline prices, according to the DGEG. In addition, the Portuguese industry, particularly the finance and energy sectors, may witness stable operations thanks to the steady refinery output and relative oil price stability.
