According to forecasts by the National Association of Fuel Retailers (ANAREC), diesel and gasoline prices could rise by as much as €0,10 per litre, reflecting instability in international markets.
Although the final price will only be set on Friday, the current trend in the stock markets is one of “significant worsening,” driven mainly by the escalation of the conflict in Iran and the consequent pressure on oil prices.
Significant rise
This price surge is due to a significant rise in Brent crude, the benchmark for the European market, which has risen more than 17% since last Friday. For the first time since the summer of 2024, Brent surpassed the $85 mark and subsequently stabilised above $83.
According to António Comprido, Secretary-General of EPCOL, the impact on fuel prices in Portugal is almost inevitable, since the national pricing mechanism is based on the average prices of the previous week. This concern is reinforced by the fact that refined products (petrol and diesel) are rising even faster than crude oil itself.
Given this scenario, the implicit recommendation for consumers is to fill up their tanks before next Sunday. While the sector awaits the final weekly closing figures, it remains to be seen whether the Government will intervene through taxation to cushion this energy shock
To date, the Ministry of Finance has not confirmed whether it is considering adjusting mitigation measures, such as reducing the ISP (Special Consumption Tax), to curb what is anticipated to be one of the sharpest weekly price increases in recent years, with direct repercussions on the cost of living and inflation in Portugal.