The final consumer price for petrol (gasoline) for the motorist in one of Europe’s oldest economies, Portugal continues to defy all reasonable logic as Prices continue to go up.
Speculation is the method most used by oil companies such as Galp, BP, Repsol and Cepsa, also involved are the government and some local media, a cartel of price fixing is used to place the final consumer price the same all over the country.
The litre of petrol is at its highest in the last 18 months, this year alone prices have increased 12%.
Regular 95 Octane in January 2010 was 1,295 Euros per litre, six months later the same litre has an inflated price of 1,495 Euros.
This means that the motorist needs more 5, 05 Euros to fill a 50 litre tank...
The last time prices were so inflated was in October 2008.when crude prices reached the $146 per barrel....
These ridiculous prices affect all sectors of the crippled economy as there is a direct influence in company budgets as well as the average motorist who has less and less money ..
According to World Watch decline in demand this year is expected to fall 16%...
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