Fuel prices to decrease once again in Portugal

Written By Lara Silva

The Portuguese government estimates the price of fuel will decrease once again this Monday. Diesel prices are thought to decrease by seven cents a liter this week and gasoline prices by five cents a liter. Despite the decrease in prices, the government will maintain the measure of reducing the tax on fuel (ISP) by 4,7 cents a liter for diesel and 3,7 cents for gasoline this week.

The Portuguese government adjusts the ISP through a formula that takes into account fuel prices and so technically, the tax on fuel was supposed to increase this week. However, the formula will only be applied next week and will potentially change the fuel prices, the tax would increase by 2,3 cents for diesel and 1 cent for gasoline.

The Minister of Finances explains that this large increase in the ISP takes into account the accumulated effect of the past few weeks, where the government decided to also maintain the same tax, even though there was a decrease in fuel prices. This is the third time since this measure was implemented in March that there has been a decrease in fuel prices and that the government has decided to not increase the ISP.

Along with this measure, since October, the government has provided a reduction of the ISP by 2 cents for diesel and 1 cent for gasoline that will remain.

Portuguese residents can also make use of the government’s Autovoucher of 20 euros for the month of April to help pay for their car fuel.

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