The Portuguese Association of Petroleum Companies (Apetro) links the current level of fuel prices, higher than in 2008, even if the price of oil is lower, due to the inclusion of fuel and the tax burden.
“There is a lot of speculation as to why, with the price of oil and petroleum products well below the 2008 peak, the pump selling prices are higher than during that period,” said a note sent by Apetro this Friday.
In the same note, the association presents two graphs detailing prices for the weeks of July 7, 2008 and June 28, 2021, concluding that “the explanation for the price increase lies in the additional cost of biofuel inclusion and, above all, in the cost of biofuels. tax burden ”(ISP – Tax on petroleum products and VAT – Value added tax).
Apetro data show that during the period under review, petrol cost € 1.517 in 2008 and € 1.652 in 2021, with the price falling and taxes increasing, as well as the costs of switching fuel.
Diesel has a similar behavior, with an average price of € 1,419 in 2008 and € 1,448 in 2021, but with more significant price reductions and higher tax and cost increases with fuel included.
Plain petrol 95 and petrol prices rose 1.2% and 2% in May to 1,639 and 1,441 euros per liter, respectively, the Energy Regulatory Authority (ERSE) reported on June 25.
According to the May 2021 LPG Fuel Market Bulletin issued by the energy regulator, the average selling price (PVP) of diesel fuel was in line with the international market, recording an increase of “2% over the previous month”, “Gasoline rose 1 , 2% for the same period. “
Last year, ERSE enforced invoices at petrol stations detailing the fees and taxes levied, the additional costs of using biofuels, and discounts.
The ERSE regulation sought to improve consumer information in a “clear, objective and adequate manner” by detailing information on total price, fees and taxes, additional transport costs, and even shipping costs.
A diploma setting an increase in the target for the inclusion of biofuels to 11% in fuels for consumption in the national territory in 2021 was published in the Diário da República on 20 January and took effect the next day.
According to the diploma, the developers [de biocombustíveis] they have a responsibility to contribute to the achievement of the incorporation targets ”, which were set at 11% this year.
An official source from the Ministry of Environment and Climate Action told Lusa in December that the biofuel introduction target for 2021 will be 11%, up from 10% in 2020, with the contribution remaining at 0.5%. Advanced biofuels made from waste and other raw materials are considered more environmentally sustainable.