Gasoline prices skyrocket to 2 euros in Portugal

Written By Lara Silva

During the weekend, lines of cars filled gas stations as drivers prepared to fill up their tanks in expectation of a rise in fuel prices. However, the increase was worse than expected as fuel prices in Portugal have risen to over 2 euros a liter on Monday. This is the sharpest fuel price increase in a week to ever happen in the country, according to CNN Portugal. This means that depending on your car, you might need 100 euros to fill your tank up, according to RTP.

Gasoline remains more expensive than diesel as usual, although experts predicted the opposite would happen. Gasoline prices increased by around 11 cents and diesel prices increased by 15,5 cents, depending on the gas station. Experts had predicted an increase of 8 and 11 cents for the respective fuel types.

The Portuguese government has implemented measures to help mitigate the increase in fuel prices. For example, Portuguese residents can make use of the government’s Autovoucher increase from 5 to 20 euros until the 30th of June for some relief. In January, the government had already temporarily decreased the tax on fuel (ISP) by 2 cents for gasoline and 1 center for diesel. This is in place until the end of April, according to the Diario de Noticias.

Parties from the center to the right are calling on the Prime Minister to reduce the ISP even further. Many are crossing the border to Spain to fill up their thanks as prices remain cheaper than in Portugal due to a lower fuel tax. The difference in price can be larger than 50 cents per liter, according to CNN Portugal. Portugal’s fuel tax remains higher than the EU average, but countries such as the Netherlands, France, and Italy have an even higher fuel tax.

The increase in prices comes as a result of the war in Ukraine. As the European Union sanctions Russia, countries lose access to the world’s third-largest petroleum producer.

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