THE CARTEL

WorldWatch Portugal office has informed than the cartel in the petrol price fixing practiced in one of Europe’s oldest economies continues, even now as crude prices are below the $110.00 per barrel the final consumer price has once more gone up this year by more than 10 cents per litre... 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 1,689 € 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 litre, no wonder Portugal has the economy is serious difficulties and are about to become worse as new Tax rates have left the Country in a recession.
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 economical growth in Portugal.
We have the example of Grece...