Fuel prices in Portugal decrease amid falling international costs

Fuel prices in Portugal have decreased for the week of August 10 to 16, according to the Energy Services Regulatory Entity (ERSE). The efficient price for 95 gasoline has fallen to 1.912 euros per liter, a 4.0% decrease from the previous week, while diesel has dropped to 2.021 euros per liter, a 4.7% decline.

This downward trend is primarily driven by a significant drop in international refined fuel quotations, which fell by 11.1% for gasoline and 10.2% for diesel. ERSE noted that these efficient prices serve as a reference based on costs like logistics, freight, and taxes, but do not constitute regulated maximum prices, as retail operators set their own rates.

While prices are falling, the extent of the relief for consumers has been partially mitigated by a government adjustment to the extraordinary discount on the Fuel Products Tax (ISP). Although the tax rate itself did not increase, the reduction of the temporary discount means that gasoline and diesel prices are dropping by approximately 10.5 and 10 cents per liter respectively, rather than the 12 to 12.5 cent drop expected from international market trends.