Fuel prices are on a rollercoaster ride, and here's the latest twist: Next week, get ready for another dip at the pumps!
The most widely used fuel in Portugal, diesel, is predicted to drop by a whopping two cents, while petrol will see a half-cent decrease. This forecast, courtesy of ACP, means you'll soon be paying €1.584 per litre for regular diesel and €1.659 per litre for 95-octane petrol.
But here's where it gets controversial: the Executive Branch's recent tax adjustments have taken some shine off these price drops. With an anticipated seven-cent plunge in diesel and a 3.5-cent drop in gasoline, the government seized the opportunity to tweak fuel taxation. As a result, the discount on the Tax on Petroleum Derivatives (ISP) has been reduced, tempering the overall price decrease.
For instance, the ISP on petrol will rise from 48.12 to 49.7 cents per litre, while diesel's ISP will increase from 33.72 to 36.16 cents. And that's not all; each litre of petrol will now incur an additional 1.6 cents in carbon tax, and diesel will cost 2.4 cents more per litre. Don't forget, there's also the 23% VAT on top of all this!
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What do you think about the government's decision to adjust fuel taxation during a period of falling prices? Is it a necessary measure or a missed opportunity to provide relief to consumers? Share your thoughts in the comments below!
