Portugal continues to have one of the most expensive final consumer price for petrol for the average motorist in the world, as WorldWatch confirmed this month alone consumer prices have increased by more than 8 cents per litre..
The involved companies continue to practice inflated prices as the government goes along with these prices in order to fill the now empty state financial vaults.
Galp Energy increased this week diesel by 2.5 cents (1,334), Regular 95
Octane by 2 cents (1,529)...per litre.
Cepsa increased this week diesel by 1.8 cents (1,331), Regular 95 Octane
by 1.7 cents (1,522)...per litre.
BP increased this week diesel by 1 cents (1,335), Regular 95 Octane by 0.4
cents (1,529)...per litre.
Repsol increased this week diesel by 2.5 cents (1,334), Regular 95 Octane
by 2 cents (1,529)...per litre.
This type of price fixing is not allowed by EEC members but corruption is like a spiders web, reaches all governing bodies.
These prices are higher than the ones practiced in 2008, this and the defice of Portugal will sink even further the consumer spending, demand for petrol will have a decline in the first quarter of 2011 of 24%, according to chief analyst WorldWatch Portugal will enter a recession with possible social unrest caused by the increase in fuel, energy,medical care,education,unemployment (above 11%) and the reduction of public servants wages by 5%.
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