ECONOMIC EXPANSION

WorldWatch chief analyst reports that once more Portugal places itsbail-out plan in serious danger of not being able to carry out the austerity plan, Portugal continue to have one of the most expensive final consumer prices for the motorist at the filing station, at the moment BP
and Repsol have the most expensive price per litre 1,601 for regular 95 Octane.

This attitude by the petrol companies Galp, BP, Repsol and Cepsa will affect Portugals austerity plan, as consumer demand will continue to drop as well as Tax revenue derived from petrol products.
This week prices have increased twice, 11-07-2011 and 12-07-2011, the policy shift by the U.S. and some European Nations to try and get external markets to help lower crude prices does not apply to Portugal were consumer prices are inflated to record cost.

The new elected government seems to be as arrogant as the last socialist government regarding this issue as there is no control as to the steps taken by these energy companies.

BP increased 5.5 cents per litre
Repsol increased5,5 cents per litre
Galp increased 5 cents per litre
Cepsa increased 5,5 cents per litre

All these companies have a monopoly in price fixing as can be seen, this price fixing is not allowed by E.U. law, however Brusels nothing does to avoid such situations allowing less honest companies and governments to run free.

Labels: CRUDE PORTUGAL, Dollar