Crude prices are at a 12 year low, however the consumer price for gasoline for the Portuguese motorist will once more be inflated next week by another cent per liter. (95 Octane)
WorldWatch chief analyst sees no reason for this latest increase as the Brent crude prices are at minimum 12 year low, the Petrol companies that operate in Portugal continue to have a concentrated increase policy supported by the government as energy prices are heavily taxed, even now with the new parliament elected Socialist/left block and Communist party the situation continues as motorist face constant increases making Portugal have one of the most expensive gasoline prices in Europe.
Brent prices have devalued more than 10%!!!
The average price for Regular 95 Octane is 1,362 euros per liter... The average price for Diesel is 1,088 euros per liter!!!
However if you travel on the more than 3000km of highway that exist in Portugal the consumer price is even higher, 12 cents per liter more expensive , all companies Galp, BP, Repsol and Cepsa practice the same inflated prices.
With these prices consumption will continue to decrease further in 2016!