Bearing in mind that on Friday, according to the bulletin from ENSE - Entidade Nacional para o Setor Energético, the average selling price to the public (PVP) was 1.976 euros/litre for simple 95 gasoline, the price at the pumps will rise to 2.069 euros next week, and that for simple diesel will rise to 2.026 euros/litre, taking into account that on Friday the PVP was 1.89 euros/litre.

Considering the evolution of the markets [of the prices of petroleum products and refined products] and the knowledge of the markets, the Government assumed that the selling price to the public of a litre of diesel would increase by 16 cents and that of gasoline by 11 cents.

In view of this assumption, an estimate was made of the increase in VAT revenue due to the new increase in fuel prices and a reduction of the same amount was defined on the Petroleum Products Tax (ISP) side, in order to stop the price increase paid by consumers.

As the Secretary of State for Fiscal Affairs, António Mendonça Mendes, said on Friday, “assuming that next week there may be an increase in pumps of 16 cents per litre of diesel and 11 cents per litre of gasoline, this translates into a potential increase in VAT revenue of 2.4 cents per litre of diesel and 1.7 cents per litre of gasoline. It is this value that is fully reflected in the decrease [of the ISP] that we determined today and that comes into force next Monday”.

In practice, the increase felt by consumers over the next week will effectively be 13.6 cents for diesel (that is, the 16 cents deducted from the 2.4 cents reduction in the ISP) and 9.3 cents for gasoline (11 cents deducted from reduction of 1.7 cents in the ISP).