Galp has today insisted that fuel prices should remain high by the end of the year, taking into account the availability of refining in Europe.
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26/10/2026
by
Lusa
A Galp said today that fuel prices should remain high by the end of the year, taking into account factors such as the availability of refining in Europe.
“ Fuel prices are determined not only by Brent’s valuation but by a combination of factors that should keep prices high by the end of the year”, said the executive co-president of Galp, João Diogo Marques da Silva, in statements to Lusa.
Marques da Silva said that market volatility and the current geopolitical situation do not allow predicting the future, but let it be anticipated that price volatility will continue.
In this sense, he noted that prices will remain “structurally high”, but stressed that this “does not simply have to do” with the geopolitical situation, but with a set of factors, from now on Europe’s refining capacity and the availability of energy and petroleum products transport.
On the electricity bill, Galp reiterated that electricity prices for the company’s customers will not have any change by the end of the year, but ensured “be early” to report the evolution to 2027.
The executive co-president of oil pointed out that, until September, Galp made available a set of discounts for Portuguese families that exceed EUR 35 million.
On October 15, the Energy Services Regulatory Authority (ERSE) proposed an increase of 1.5% in the price of low voltage electricity that remain in the regulated market for 2027.
This proposal is subject to the opinion of the Tariff Board, with the regulator until 15 December to publish the tariffs and prices that will apply from 1 January.