Portugal has one of the most expensive final consumer price for petrol (gas-US) in the world.The prices are inflated on a weekly basis by the four companies present.Galp, BP, Repsol and Cepsa.
Galp Energy increased this week diesel by 3 cents (1,348), Regular 95
Octane by 2 cents (1,533)...per litre.
Cepsa increased this week diesel by 1.8 cents (1,329), Regular 95 Octane
by 1.7 cents (1,522)...per litre.
BP increased this week diesel by 1 cents (1,329), Regular 95 Octane by 0.4
cents (1,529)...per litre.
Repsol increased this week diesel by 2 cents (1,334), Regular 95 Octane
by 2 cents (1,529)...per litre.
With this weeks increase petrol has reached the most expensive price per litre ever in Portugal, passing the historic mark of July 2008, 1,525 eurosper litre...back then the crude price was $147 per barril not at todsaysprice of $91 per barril...
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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