Fuel prices will decline from next Monday, November 8, at gas stations in Portugal. In the case of plain diesel, prices should fall by about 2 cents per liter to € 1.526 per liter, according to Negócios calculations. If confirmed, it will be the largest weekly drop in diesel prices since May this year.
On the other hand, the 95 gasoline price will drop slightly less, by about 1.5 cents per liter, to € 1.718, the biggest drop since March.
This projected devaluation of fuel prices in Portugal, coinciding with a devaluation of the European barrel, occurred a week later, when US President Joe Biden demanded that the world’s largest oil producers increase production in order to contain rising prices. But despite Biden’s pressure, The Organization of Petroleum Exporting Countries and its allies (the so-called OPEC + group) ignored orders and kept the usual oil injection, which pushed prices up on Friday.
Brent, the benchmark for Portugal, is losing almost 4% in a week. However, this Friday he returned to victory after losing two sessions in a row.
At a meeting on Thursday, OPEC + members decided to keep the July plan to increase 400,000 barrels per day every month until the end of the year and in the first months of 2022. The decision was taken simultaneously with this requirement. significantly outstrips the supply on the market.
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).
