WorldWatch Portugal

WorldWatch Portugal office has informed than the cartel in the petrol price fixing practiced in one of Europe’s oldest economies continues!!!

Prices for the motorist have increased for the last ten weeks on a regular basis.

To fil an average car petrol tank with 50 liters  the price has increased by 7 euros since the beginning of the year.

BP and Galp have the most expensive petrol consumer price in Portugal and one of the most expensive in the World, BP regular 95 Octane is fixed at 1,641 € per litre.
One of the most expensive in the world.
At the market price, consumers should be paying for regular 95 Octane 1,359 € per liter, this will place  Portugal in serious difficulties as this self-elected government  is now on an election driven campaign distribution tax payers money left and right.
WorldWatch foresees a decline in consumption of 23% with the biggest drop being the demand for petrol. The cartel in the petrol price fixing has the approval of the Government as each litre of petrol sold to the consumer is heavily taxed. With the economical measures taken by the Government and the attitude of energy companies there will be no room for economic growth in Portugal....

As WorldWatch indicated the growth and consumption in the second quarter will drop 23%.

In fairness to all readers the social and economic welfare of the Portuguese has been on the decline for the last 30 months ,

Strikes are abundant every day, in particular the public servants, this affects mainly Schools, hospitals in general all state controlled institutions.

In order for the government to continue with its election driven campaign distribution tax payers money left and right, the energy hike will continue, next week a 2 cents per liter petrol increase has already been announced.

This will no doubt create social unrest only equal to the French ”green jackets”, by then it will be too late for the self-elected government  to take action, the only option will be to resign.