Diesel and petrol prices to jump sharply next week

In the coming week, from 20 to 26 July, fuel prices are set to rise sharply.

According to the Automóvel Clube de Portugal (ACP) and the forecasts of the Directorate-General for Energy and Geology (DGEG), the price of diesel is expected to increase by 13.5 euro cents and that of petrol by 6.5 euro cents per litre.

As a result, next week diesel will cost consumers €1.988 per litre and petrol €1.980 per litre.

The ACP adds that the average figures are based on 'raw material prices at the close of markets last Thursday', but that until Friday there may still be fluctuations in the prices of crude oil and fuels.

The war in the Middle East, involving the US, Israel and Iran, continues to drive prices up and the government has pledged to apply an extraordinary and temporary reduction in ISP (Tax on Petroleum and Energy Products) whenever the increase exceeds 10 cents.