Fuels: Gasoline prices fall again… to pre-war values

Deepak Gupta August 5, 2022
Updated 2022/08/05 at 10:48 AM

The rise in fuel prices was felt severely throughout the world. The war that broke out in Europe was one of the great drivers of all the economic instability and energy crisis, which motivated such increases.

In Portugal, next week, prices will fall again for diesel and gasoline, in this case, to values ​​recorded before the war.

For the 9th consecutive week, the price of gasoline 95 falls again. The price of diesel will also see a considerable drop. These drops will bring prices back to what they were before the war started in Europe.

Diesel should thus register a drop of 8.2 cents, to an average value of 1,748 euros, according to sources from an oil company in the country. The value is not yet definitive and will only be fixed during the course of today.

The price break follows a more than 8% decline in Brent this week.

Gasoline prices reach pre-war levels

According to data from Directorate-General for Energy and Geology (DGEG)the last time that gasoline had such a prolonged cycle of declines was in November 2018. The value of gasoline 95 is expected to fall by 7.5 cents, resulting in an average selling price to the public of around 1.814 euros .

This was the price charged on February 21, even before Russia invaded Ukraine and created all the economic and energy instability in the world.

However, the price of diesel will still remain around 10 cents above the pre-war price.

These indicated values ​​should already include the mitigation measures implemented by the government, which include lowering the VAT rate, offsetting the ISP reduction and suspending the carbon tax update.

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