Diesel down 7 cents and gasoline 5 cents per liter from today

Deepak Gupta April 11, 2022
Updated 2022/04/11 at 3:22 PM

With each passing week, consumers wait to see if fuel goes down or up. With the price of fuel still quite high, this week, diesel and gasoline will go down again.

According to information, diesel will drop by 7 cents and gasoline by 5 cents per liter as of this Monday.

Diesel and gasoline drop... and AUTOvoucher will end

The price of a liter of diesel is expected to fall, as of today, by seven cents and that of gasoline by five cents, according to the Government's perspective, which, despite the drop, will maintain the reduction in ISP rates.

According to the weekly ISP unit rate review mechanism, this price evolution should result in an increase in the unit rates of the Petroleum Products Tax (ISP).

The decree published on Friday following the weekly adjustment mechanism determined the “maintenance of the temporary ISP discount of 4.7 cents per liter of diesel and 3.7 cents per liter of gasoline”, with the prospect that next week re-apply the formula [do mecanismo] “with the corresponding adjustments”.

It is recalled that, since the weekly mechanism came into force, in March, this is the third time that the evolution of the fuel market dictates a decrease in the sale price to the public of gasoline and diesel, with the Government opting for maintain ISP fees. This mechanism compensates through the ISP the increase or decrease in VAT revenue caused by the evolution of fuel prices.

According to the website Online Fuel Prices, from the Directorate-General for Energy and Geology, the average price of gasoline 95 yesterday was around €1.976 per liter and simple diesel at €1.902 per litre. You fuels in Spain are cheaper by 30 cents per litre.

Regarding the AUTOvoucher, this program will end because the new measure "is more effective than the previous one". The Secretary of State for Tax Affairs, António Mendonça Mendes revealed that the subsidy has already helped Portuguese families with “more than 90 million euros” since November 2021.

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