Fuel prices will drop significantly next week. This is the second drop in 15 days and follows a spike last week, reflecting the volatility that currently dominates the international oil and oil markets (diesel and gasoline).
As of next Monday, April 4, simple gasoline 95 could drop by around four cents, for an average price of 1.982 euros per litre, while simple diesel could be up to 13 cents cheaper. If implemented, diesel could reach 1.862 euros per litre, according to Negócios’ accounts. Since the beginning of the year, the price of gasoline has increased by 19% and diesel by 24%.These values may also be affected by the application of the Government mechanism that aims to reduce the tax on petroleum products (ISP) that is applied weekly, and it is expected that this Friday the Executive of António Costa will declare if there will be and what the concrete discounts applied to the tax on gasoline and diesel.
This decline is mainly caused by the fall in the price of oil and oil products on the international market. Black gold has eased this week in the face of the spread of new cases of covid-19 in China.
The Asian giant is the biggest oil importer in the world, which forced Beijing to confine some regions, such as Shanghai, in order to carry out mass tests and even in the face of the order of the Joe Biden administration that determines that strategic reserves be released, in order to in order to help rebalance demand and supply in the international market.
The United States will once again use its strategic oil reserves and release one million barrels a day for six months, in a new effort to contain the rise in the prices of “black gold”, the White House said this Thursday, quoted by the Financial Times.
This Friday, the West Texas Intermediate (WTI), a benchmark for the US market, continued to depreciate by 0.17% to US$100.11 a barrel, after this morning it had retraced below the US$100 level. , heading for the worst weekly drop in nearly two years, according to Bloomberg accounts.
North Sea Brent, a reference for European imports, continues to add 0.23% to US$104.95, after being traded in the red during the morning of this Friday.
Negócios calculations are based on the evolution of these two oil derivatives (diesel and gasoline) and the euro. But the cost of fuel at the pump will always depend on each filling station, the brand and the area where it is located.
The new prices take into account the variations calculated by Negócios in relation to the average price practiced in Portugal this week and announced by the General Directorate of Energy and Geology (DGEG).
Source: Jornal de Negócios by www.jornaldenegocios.pt.
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