Sand you need to fill up your car, be aware that this Monday fuel prices will record different behaviors: gasoline will become cheaper, but the price of diesel will rise again. In view of these forecasts, the government announced a new change to the tax on petroleum products (ISP).
Industry Source Revealed at Up-to-the-minute news, Fridaythat the the increase in diesel could reach six cents per liter, while gasoline should be cheaper by around four cents per liter.
This means that with this increase, the average price of simple diesel will remain above two euros per liter. The most recent data from the Directorate General for Energy and Geology shows that straight diesel cost, on average, 2,038 euros per liter on Sunday June 19, while straight petrol cost, on average, 2,162 euro per litre.
In this context, the government decided to resume work with PSI. The FAI reduction starting this week will be 22.2 cents per liter for diesel and 26.3 cents for petrol, which translates to 1.2 cents more for petrol and 0.4 cents more for diesel.
It should be noted, however, that the Prices may vary by brand and gas station location.
According to a statement released by the Ministry of Finance on Friday, “Given the prospect of price developments next week and the price changes seen over the past two weeks, there will be a further reduction in ISP fees. [Imposto Sobre os Produtos Petrolíferos] in both fuels, starting next Monday, June 20″.
Thus, he said, “the tax burden (ISP + VAT) is reduced by an additional 1.2 cents per liter of petrol and an additional 0.4 cents per liter of diesel”.
In the same press release, Finance mentions that “over the next week, the overall easing of the tax burden on fuels through the two measures in force – the weekly PSI review mechanism and the reduction in unit rates of this tax to the equivalent of a VAT of 13% – totaling 22.2 cents per liter of diesel and 26.3 cents per liter of gasoline”, with “to these amounts is added the non-discounting of the tax carbon of about six cents per litre”.
According to the government,the FAI diesel tariff falls to a minimum authorized by Directive 2003/96/EC, of October 27″, adding that “Portugal has already requested the European Commission, in April, to derogate from the application of the minimum limits imposed by the aforementioned Directive, by virtue of its Article 19, the assessment of the request by the services of the European Commission is in progress”.
The supervisory authority also informed that “as part of the weekly review of the ISP update mechanism, which ensures the restitution of any exceptional VAT receipts in view of the prospect of price changes, the situation will be reassessed on Friday 24 next June”.