The week changes, but the result is similar to fuel prices: from Monday, October 18, the prices of diesel and gasoline at petrol stations in Portugal will rise again. If it does, it will be the 36th price increase in 43 weeks this year.
According to Negotsios’ calculations, the price of 95th grade gasoline should rise by almost 2 cents to 1.726 euros per liter, which will be the third weekly increase in a row. This year alone, the price of this asset has risen by 31 cents per liter compared to December 2020.
In the case of plain diesel, the option would be similar, with an advance of about 2 cents to € 1.531 per liter. This will be the eighth rise in a row, and the difference between the two fuels will return to the lows of March this year. In 2021, diesel has become 26 cents more expensive.
The global energy crisis has led to a sharp increase in the price of oil and petroleum products, as production from other sources, such as natural gas, does not meet all demand. This week, the price of Brent crude, which serves as a benchmark for Portugal, has risen for the sixth time in a row (almost 3%), renewing highs in about three years, approaching $ 85 a barrel.
The calculations are based on the evolution of these two derivatives of oil (diesel and gasoline) and the euro. But the cost of fuel at a gas station will always depend on each gas station, brand and area in which you are located.
The new prices take into account the discrepancies calculated by the Business compared to the average price practiced in Portugal this week and announced by the General Directorate of Energy and Geology (DGEG).
Business calculations are based on contracts other than those followed by oil companies (although the evolution is usually similar), and the data available for Business is only available until Thursday (one trading day is missing).
The rise in prices affects all areas of energy. Portugal and Spain are presenting this Friday highest electricity price throughout the European Union (EU).
The average cost in the Iberian market is 231.82 € / MWh, the second highest ever, behind only 288.53 € on 7 October. Compared to Thursday’s prices, prices in the Iberian market increased by 7.5%, while in most European countries there is a decline, reaching 32.5% in Poland and 30.5% in Germany.
