The news is not encouraging for drivers, as fuel prices are set to rise sharply again next week. According to calculations, an increase of 15 cents per liter for diesel and 10 cents for gasoline is anticipated.
This could be one of the most substantial increases since the war between the United States and Iran began, leading to average prices soaring to record levels. The National Association of Fuel Sellers forecasts a rise of 15 cents for diesel and 10 cents for gasoline.
Consequently, diesel fuel could reach approximately 2.17 euros per liter, and gasoline could reach 2.12 euros. It is important to note that fuel pricing policy in Portugal is free, allowing each brand and gas station to set its own price. Mafalda Trigo, Vice President of ANAREC, explained to RTP Antena1 that this is currently only a forecast based on international markets, and the final cost will be confirmed later today, but everything points to a noticeable increase.
If these forecasts materialize, fuel could exceed historical highs. According to the latest data from the General Directorate of Energy and Geology (DGEG), the average price on Wednesday was 2.019 euros per liter for diesel and 2.022 euros for 95 gasoline.
Portugal is on the verge of registering the highest fuel price in history, at least according to economist Filipe Grilo, who reported this to Antena 1. Considering the predicted new increase next week, Filipe Grilo expects a record price for consumers at gas stations.
The economist explains that the cause is the escalation of the Middle East war and increased profits from oil refining. The specialist believes that negative events will not stop here, and another rise in fuel prices is expected next week.
Forecasts from Galp, the association representing gas stations, as well as the Portuguese Automobile Club, indicate an increase of more than 10 cents in diesel and gasoline prices starting Monday. This significant increase will make the bill considerably more expensive for those refueling, and it will also exacerbate the rise in food prices and accelerate inflation.
Meanwhile, in the United States, the price of diesel fuel reached an all-time high of $5.85 per gallon, equivalent to approximately 4 liters. The previous record price for diesel fuel in North America was set in 2022 following Russia's invasion of Ukraine, and now fuel exceeds all previous peaks.