WorldWatch

Oil prices reach new record in one of Europe’s oldest economies PORTUGAL ...PORTUGAL has one of the worlds most expensive final consumer oil price, regular 95 Octane is now a staggering 1,479 euro per liter.... diesel prices rose to 1,369 euro per liter....
Oil consumption in January had a 2,4% drop, more than 300 filing stations have closed affecting in average 3000 workers!!!!
This 15th oil increase this year in PORTUGAL like most others is PURE SPECULATION, practiced by the government and petrol companies like Galp, BP.REPSOL and others to keep final consumer prices as high as possible...
Galp is the first to apply the new prices followed by the others with the same prices, their monopoly is to keep prices as high as possible, however this is forbiden by the ECC, therefore WorldWatch will make a formal complaint with the ECC alerting to this situation...
Portugal buys crude at discount prices from Venezuela, is involved in partnerships in Angola, Brazil (tupi and sugar field) among other partnerships but these company assets and profits are not passed to the consumer, the government has over 65% tax on every liter consumed the rest the petrol companies keep, BP profits in the first quarter reached 63%...unthinkable!!! Also the crude is paid in dollars and we see the value of the dollar, this is yet another reason not to have such an expensive oil price.... what will happen if the dollar goes to normal values.
This cannot continue, the high price of diesel and regular oil has helped drive up costs for goods and services throughout the economy.... Portugal has now reached the breaking point; its time for the population to react to protest against this abuse of power...