Fuel prices will rise for the first time in five weeks – energy


Fuel prices are expected to rise as of next Monday, February 17, interrupting a cycle of falls for four consecutive weeks, according to Business calculations. There is a margin for an increase of 1.5 cents in simple gasoline 95 and for an increase of 1 cents in diesel. If this scenario occurs, and taking into account the prices practiced in the last week, gasoline may rise to 1.512 euros per liter and diesel to climb to 1.383 euros per liter.

These prices take into account the variations calculated by the Businesses compared to the average price practiced in Portugal this week and announced by the General Directorate of Energy and Geology (DGEG).

In the last four weeks, fuel prices have seen massive declines, correcting the strong rise in the first week of the year, when gas stations have decided to incorporate a carbon tax and an increase in the incorporation of biofuels into prices.

However, it is only today that the Government published the ordinance with the carbon tax in force this year, which is usually retroactive to January. In gasoline the “value of the addition” goes to 53.65 euros for every thousand liters, while in diesel it rises to 58.45 euros. In both cases the increase is 85%.

The rise in fuels in Portugal accompanies the rise in oil prices in the market. Brent, who serves as a reference for the country, is going on his fourth consecutive earnings session and is preparing to end the week with a global appreciation of about 5%.

This, despite the fact that the International Energy Agency said that the demand for raw materials should contract for the first time in more than a decade in the first quarter of this year, due to the impact of the coronavirus.

The evolution of fuel prices is calculated based on the evolution of oil products (diesel and gasoline) and the euro. Even so, the evolution of costs will depend on each filling station, the brand and the area where it is located.

Business calculations are based on contracts different from those followed by oil companies (although the evolution is usually similar), and the data available for Business are only available until Thursday (one trading day is missing).


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