Fuel prices set to rise significantly next week

Fuel prices are set to increase significantly next week thanks to the ongoing ‘crisis’ in the Middle East driving up the price of oil.

Diesel is expected to see the largest increase.

According to calculations by SIC Notícias calculations, diesel is expected to increase by 13.5 cents per litre. Petrol, meantime, is expected to rise by around 6.5 cents per litre.

The final prices will only be confirmed later this afternoon, after the markets close. The government’s position on the fuel tax (ISP) discount is also still awaited. Will it reduce the tax, giving drivers a little less pain?

These increases come due to a week in which oil is trading close to $85 per barrel as conflict persists between the United States/ Israel/ Iran and its proxies.

Source material: SIC Notícias

Natasha Donn

Journalist for the Portugal Resident.