Petrol and diesel prices to fall

It is worth waiting until next week to fill up your tank, with both petrol and diesel prices set to fall.

By TPN, in News, Portugal, Business · 07 Oct 2023, 17:05 · 3 Comments

Diesel will fall by four cents and petrol will fall by six cents next week, a sector source told Notícias ao Minuto.

These forecasts come at a time when the average price of simple diesel is €1,780/liter, while petrol 95 gasoline is costing, on average, €1,852/liter, according to data from the Directorate-General for Energy and Geology ( DGEG).

"The districts of Castelo Branco, Braga and Portalegre recorded the lowest diesel and gasoline prices in mainland Portugal. Beja, Bragança, Guarda and Faro presented the highest prices", according to the regulator's report.

Also according to ERSE, "hypermarkets maintain the most competitive offers in road fuels, followed by operators in the low-cost segment".

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Comments

Crude oil has fallen by 8% while the price at the pump only drops by 6 cents.

By Pete from Algarve on 07 Oct 2023, 20:09

@ Pete, that's because most of what you pay is tax, with a minority going to the retailer or oil company. Let's say you pay €1.80 per litre, and 70% of that is tax, or €1.26. That means it's only the remaining 54 cents that is influenced by changes in oil prices. So an 8% drop in the crude price will shave 4.3 cents off the 54 cents, which is only 2.4% of the price (€1.80) you pay.

By Billy Bissett from Porto on 09 Oct 2023, 09:38

Fair enough given the net numbers presented here by the elder from Porto but please don’t forget the Euro$ Foreign Exchange impact.

By Miguel from Lisbon on 10 Oct 2023, 21:27