Europe continues to face serious deficit problems such as Greece, Ireland, Spain and Portugal were new economical measures were announced this year by the government, cuts in public spending, reduction by 5% in salary, benefits in IRS, reduced and in most cases cancelled.
What the Portuguese government forgot to mention or announce any control over is the weekly increase in consumer petrol prices, this alone will affect the economy as petrol prices for the motorist keep going up, inflated by greedy companies such as Galp, BP, Repsol, Cepsa, they all practice the same final consumer price.
Regular 95 Octane 1.749€ per litre, this is the most expensive in Europe and one of the most expensive in the world.
Back in 2008 when Brent crude reached a record $147 a barrel, consumer prices were much lower than now around Regular 95 Octane 1.249€ per litre.
As long as these prices continue inflated the tax revenue derived from petrol will continue to fall drastically forced by a severe drop in consumer demand, this year alone its expected to drop by 18%.