Fuel prices rise in Portugal and Brazil amid market shifts

Fuel prices are facing upward pressure in both Portugal and Brazil due to regional conflicts and refinery pricing structures.

In Portugal, industry sources forecast increases for the week of August 24, 2026. Gasoline is expected to rise by approximately 2.5 cents per liter, while diesel is projected to increase by 3.5 cents per liter. These fluctuations are linked to the conflict in the Middle East involving the US, Israel, and Iran, which has led to a blockade of the Strait of Hormuz, a critical passage for 20% of global oil and gas trade.

In Brazil, the Clara Camarão refinery in Guamaré, operated by Brava Energia, has raised its gasoline price from R$ 3.77 to R$ 3.92 per liter. This represents a 53.12% cumulative increase since the start of the year. The refinery's pricing is significantly higher than the Petrobras average, which has been approximately R$ 2.61 per liter for distributors since late May. Diesel prices at the same refinery also saw increases, with certain modalities rising by R$ 0.40 per liter.