Portugal sees fifth consecutive weekly fuel hike

Diesel fuel in Portugal will rise to €1.40 a litre for the fifth week running. The hikes, which include petrol, worry the transport sector.

The price of fuel goes up from Monday to the highest level since the start of 2018. Now a litre of diesel, the most commonly used fuel in Portugal, will be 0.50 cents higher from next week with the average price of diesel at the pumps costing €1,307, a maximum since February according to data from the Directorate-General of Energy. There will also be petrol stations where a litre will cost over €1.40. In terms of petrol, this is also likely to rise by half a cent to €1.519 per litre.

Fuel prices vary according to the price of oil on the international markets. Last week a barrel of Brent (London) and WTI (New York) gaining 1% to their highest level for three years in the expectation that OPEC and a group of countries outside that cartel, like Russia, continue cuts in production until the end of 218 as has been agreed.