Fuel prices in Portugal will fall on Monday, with diesel dropping about 5.5 cents per litre and 95-octane petrol falling 3 cents.
ANAREC, the National Association of Fuel Retailers (representing petrol station owners), provided these price forecasts to Lusa, which include IVA (Value Added Tax).
Based on current data from state energy regulator, the Directorate-General for Energy and Geology (DGEG), average 95-octane petrol should cost €1.913 per litre and diesel €2.090 starting on Monday.
Analysts will close the final average late today. Prices may still change depending on international oil trends, while final pump costs vary by station and location.
The Monday price drop follows five weeks of increases due to rising oil barrel prices triggered by U.S. and Israeli attacks on Iran, and the closure of the Strait of Hormuz.
Attacks on Iran appear to have reached a ‘bilateral ceasefire’, which may or may not hold as peace talks are due to get underway in Islamabad tomorrow.
Brent crude, the European benchmark, fell 13% on Wednesday from nearly $110 (approx. €94.16) to under $95. It rose to $97.42 on Friday morning when it became clear that the ceasefire is hanging by tenuous threads.
Source material: LUSA
