Austerity Plan

WorldWatch chief analyst reports that once more Portugal places itsbail-out plan in serious danger of not being able to carry out the austerity plan, Portugal continue to have one of the most expensive final consumer prices for the motorist at the filing station, at the moment BP
and Repsol have the most expensive price per litre 1,601 for regular 95 Octane.

This attitude by the petrol companies Galp, BP, Repsol and Cepsa will affect Portugals austerity plan, as consumer demand will continue to drop as well as Tax revenue derived from petrol products.
This week prices have increased twice, 11-07-2011 and 12-07-2011, the policy shift by the U.S. and some European Nations to try and get external markets to help lower crude prices does not apply to Portugal were consumer prices are inflated to record cost.

The new elected government seems to be as arrogant as the last socialist government regarding this issue as there is no control as to the steps taken by these energy companies.

BP increased 5.5 cents per litre
Repsol increased5,5 cents per litre
Galp increased 5 cents per litre
Cepsa increased 5,5 cents per litre

All these companies have a monopoly in price fixing as can be seen, this price fixing is not allowed by E.U. law, however Brusels nothing does to avoid such situations allowing less honest companies and governments to run free.

Portuguese Government

The Socialist Portuguese Government fell last week as it failled to passover to the public the measures taken to reduce public spending. In fact what the politicians overlooked is the fact that the population of Portugal face a difficult situation caused by the Bankers and these same politicians. Unemployment well over the 11% Health care one of the worst and most expensive in Europe Education one of the worst in Europe Energy prices are one of the most expensive in the world (petrol, electricity, water, gas) Corruption according to local media is a daily happening Price fixing between companies for consumer goods and energy. The example of price fixing between energy companies happens on a weekly basis without no reason, the example shown by WorldWatch is the final consumer price motorists pay at the petrol pump, consumer prices go up everyweek, Last week petrol prices dropped in some cases by 2 cents per litre, only to increase this week by 2,5 cents in all companies working in Portugal, Galp, BP, Repsol and Cepsa. All these companies practice price fixing... This alone will further sink Portugals economy deeper into recession as the population have no money to support any growth. Petrol consumption will decline by 13% this year alone…

Greek tragedy

Portugal has one of the worst economical economies in Europe, almostidentical to the Greek tragedy, all indications point to a continuing Of the dilemma as the country faces severe measures almost on a daily basis, as is the case with the petrol price paid by the motorist at the petrol filling stations across the country. Today the petrol company’s Galp, BP, Repsol and Cepsa increased final consumer price by a staggering two cents per litre.

A litre of Regular 95Octane is now 1.401 euro per litre, one of the most expensive in the world. This attitude is possible since the involved companies have the approval of the now useless socialist government to increase the final consumer price as they so desire. Europe Asia and the US have not left the recession zone, in fact some Nations are worse now than two years ago, we have the example of Greece, Ireland, Spain and Portugal that have serious budget problems, the increase in petrol prices will further reduce demand and public spending by more than 7% this year alone, this will be aggravated next year by a 2% increase in Tax to a record breaking 23%, this ridiculous measure taken by the useless Prime minister Socrates will have serious inverse economical effects on the economy and population whose unemployment rate is now over 10.5%.

Filling a normal 50 litre petrol tank the motorist must pay 6 € more than in January this year for the same amount.

Oil prices rose to near $83 a barrel Monday due to the stonger dollar and speculation that the U.S. central bank will soon move to bolstera spluttering economic recovery.

THE BIGGEST FRAUDE IN EUROPE

Fraud in Portugal is practiced by oil companies and Government on a daily basis!!! Everyday the world faces serious economic difficulties, unemployment, more and more companies closing down, massive layoffs, sales dropping, production levels at the lowest ever, but somehow the Portuguese government and oil companies like Galp,BP,Cepsa and Repsol take upon themselves to on a weekly basis increase the final consumer price at the pump two or three times per week....
Its measures like these that have placed the world economy in a recession, Portugal has one of the worlds most expensive consumer oil prices, even now as oil prices slipped below $50 a barrel as investors grappled with the prospect that global growth will be slower than originally feared. Oil prices have fallen about 67% in four months, plunging from a record $147.27 in mid-July 2008. However this decrease in crude prices does not affect one of Europe’s oldest economies...Portugal...were prices continue to be one of the highest in the world, even when crude prices where at a three-year low Portugal continued to have final consumer prices one of the highest in the world...Oil consumption in Portugal last year dropped more than 14% and all tendencies indicate that it will continue!!!
Last week final consumer prices have once more increased more than two cents per litter!!! this dishonest attitude is lead by the so called national oil company Galp Energia...there is no reason for the increase except greed, the Portuguese Government is also involved in this apparent corruption scheme as the more the companies charge the more taxes the government obtains... This scheme is called "Robin Hood Tax" the more you charge the more Tax I (government) have... As is also tradition one company increases all others follow behind, the prices are also certainly combined between all involved... This arrogant attitude by the oil companies (GALP,BP,REPSOL,CEPSA) and government will not be forgotten as Portugal will shortly enter a period of elections for a new government; the population will certainly have the opportunity to elect a new government that will work for the people and not for the oil industry...