By Lina Ferreira
Published on •Updated
Portugal woke up to another rise in fuel prices which, in the case of diesel, reached a historic high. This time, the price rise, which has been seen throughout the year, was marked by protests on roads across the country.
In the morning, a blaring of car horns on the 25 de Abril bridge could be heard, the crossing that links Lisbon to the city of Almada, on the south bank of the River Tagus.
At the same time, further south, a slow‑moving convoy set off towards Galp’s refinery in Sines, in the district of Setúbal. The protest, organised on WhatsApp and social media, was still under way after lunchtime and did not have a set finishing time.
Images on social media showed cars with Portuguese flags on their bonnets sounding their horns. According to the Lusa news agency, protesters were also carrying placards reading “Enough of rising fuel prices” and “families can’t take any more”. The GNR told the agency that between 60 and 100 vehicles took part.
Petrol at its highest since the invasion of Ukraine
According to forecasts from the Automóvel Club de Portugal (ACP) (source in Portuguese), diesel rose this Monday by 15 cents (to 2.169 euros per litre) and petrol went up 12 cents (to 2.142 euros per litre).
These figures do not take into account the cut in the tax on petroleum products (ISP), applied by the government on an exceptional basis, which limited the increases to 12 cents for diesel and 9 cents for petrol.
This is the highest diesel price ever, according to calculations by Dinheiro Vivo (source in Portuguese). In the case of petrol, this is the highest level since the energy crisis triggered by Russia’s invasion of Ukraine in 2022.
Portugal among the countries with the highest prices
Across Europe, fuel prices have been rising throughout the year. In Germany too, the Frankfurter Allgemeine (source in Portuguese)reports that fuel prices have reached a historic high, with petrol surpassing the previous record of 2.203 euros per litre set in March 2022.
But Portugal is among the countries with the highest fuel prices. Thefuel-prices website (source in Portuguese), which compiles fuel prices in 21 European countries, showed this Monday that Portugal was the 19th most expensive country for petrol, with only France and Denmark reporting higher prices.
For diesel, Portugal’s position improves to 17th place, ahead of the United Kingdom, Italy, France and Denmark.
The rise in prices even prompted Portugal’s environment and energy minister, Maria da Graça Carvalho, to commission a study from the Energy Services Regulatory Authority (ERSE).
But the study, published in mid-August, did not find “evidence of operators taking advantage”. It also said there was no “rockets and feathers” phenomenon, where prices rise quickly and fall slowly.
“The results therefore do not support the idea that price cuts are passed through persistently more slowly or less fully than increases,” the study says.
ERSE also explained the difference in prices with Spain in terms of taxation. But it stressed that in Portugal the tax burden has remained constant, “in line with most countries in the European Union and the euro area”.
Hormuz and refining capacity
The rise in fuel prices in Europe has been linked to the conflict in the Middle East and the blockade of the Strait of Hormuz, which has had a disruptive effect on trade routes.
But experts also point to limitations on refining capacity, even when crude oil is available, a situation that particularly affects diesel.
On the fiscal front, an extraordinary tax on oil company profits is now on the table. According to AFP, the ministers of Portugal, Germany, Italy, Austria, Poland and Spain have sent a letter to Ireland’s finance minister asking for the issue to be discussed at the next meeting of finance ministers. The gathering is scheduled for 18 and 19 September in Ireland, which holds the rotating presidency of the European Union.