Updated

Updated · The Portugal News · Jul 11

Portugal Diesel Prices Seen Rising 7 Cents to €1.863 a Litre as Petrol Adds 2.5 Cents

Updated

Updated · The Portugal News · Jul 11

Portugal Diesel Prices Seen Rising 7 Cents to €1.863 a Litre as Petrol Adds 2.5 Cents

Q: With wildly conflicting forecasts, will fuel prices in Portugal soar or plummet next week?

Fuel prices in Portugal are more likely to fall next week, though the outlook is unusually volatile. The sharpest and most recent forecast comes from Anarec, the fuel retailers’ association, which said on Friday that both petrol and diesel should drop by about 12 cents a litre from Monday. That would put average prices near €1.904 for 95-octane petrol and €1.837 for diesel. That clashes with earlier projections from the Automóvel Club de Portugal and the Directorate-General for Energy and Geology, which had pointed to a steep rise for July 20-26: about 13.5 cents more for diesel and 6.5 cents more for petrol, implying averages close to €1.988 and €1.980 respectively. Those estimates were based on market prices at Thursday’s close, while Anarec’s later view appears to reflect Friday’s pullback in crude. The reason for the confusion is the oil market itself. Middle East tensions have pushed Brent sharply higher this year, but on Friday it was down about 1.5% on the day, trading just above $91 a barrel. In Portugal’s liberalised market, pump prices also vary by brand and location, and forecasts can shift quickly with crude prices. There is another variable: taxes. If wholesale prices fall, the government could reduce its temporary fuel-tax relief, which would trim the size of any drop at the pump. Even so, based on the latest available forecast, motorists should expect a decline rather than a surge next week.

1 articles · Updated · The Portugal News · Jul 11

Automóvel Club de Portugal forecast diesel will rise 7 cents next week, taking the average pump price to about €1.863 a litre.
Petrol is seen increasing 2.5 cents, which would lift the average price to roughly €1.918 a litre.
The club said the figures are only a forecast and could still change if crude oil prices deteriorate further.
Pump prices may also differ by station and region, leaving motorists facing uneven increases across Portugal.

Sources

The Portugal News6d ago

Automóvel Club de Portugal Forecasts Diesel Up 7 Cents, Petrol Up 2.5 Cents

With wildly conflicting forecasts, will fuel prices in Portugal soar or plummet next week?

How is the Middle East conflict directly causing the volatile fuel prices Portuguese drivers are now facing?

Can Portugal's fuel tax cuts coexist with its ambitious goals to electrify transportation?

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1 total

The Portugal News6d ago

Automóvel Club de Portugal Forecasts Diesel Up 7 Cents, Petrol Up 2.5 Cents

Portugal Diesel Prices Seen Rising 7 Cents to €1.863 a Litre as Petrol Adds 2.5 Cents

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