Festival F, held in Faro, promises to be one of the largest events since the start of the conflict between the United States and Iran, with projected average values reaching their highest levels ever.
The National Association of Fuel Retailers predicts an increase of 15 cents in diesel price and 10 cents in gasoline price. With this, diesel could reach around 2.17 euros per liter, while gasoline could reach 2.12 euros. It is important to note that the fuel pricing policy in Portugal is free, allowing each station and brand to set its own price.
Mafalda Trigo, Vice President of ANAREC, informed RTP Antena1 that these are only projections based on international markets, although everything indicates a considerable increase. Economist Filipe Grilo warned Antena 1 that Portugal is about to record the highest historical price for fuels.
Grilo attributes this situation to the worsening of the War in the Middle East and the increase in profit margins during the oil refining process. He also believes that the negative impacts will not be limited to Portugal, predicting another price increase in the following week.
Estimates from Galp, which represents fueling stations, and the Automobile Club of Portugal indicate increases of over 10 cents for both diesel and gasoline starting Monday. If these forecasts materialize, diesel could surpass its historical maximum.
According to the latest data from the Directorate-General for Energy and Geology (DGEG), the average price recorded this Wednesday was 2.019 euros per liter for diesel and 2.022 euros for gasoline 95. This significant increase will result in higher costs for those refueling, adding to the rising cost of food and accelerating inflation.
In parallel, the price of diesel in the United States reached its highest record, reaching 5 dollars and 85 cents per gallon, which corresponds to approximately 4 liters. The previous record in the United States occurred in 2022, after the Russian invasion of Ukraine, and is now being surpassed by the fuel.