Here comes another rise in fuel prices: See here the predictions

A next week should bring about a further deterioration in fuel prices. Provisional estimates point to a 3.5 cent increase in diesel price and 2.5 cent increase in petrol, advanced source of the sector to News to Minutes. 

These figures, if you please, are still provisional and the closed numbers will only be found at the end of the afternoon of Friday. 

It means that the final average may still change depending on the evolution of international oil prices and the final cost in the pump may vary according to the gas station, brand and location. The update of the Petroleum Tax (ISP) discount may also change the expected values.

This at a time when the average price of simple diesel is EUR 2,037 per litre and simple petrol 95 is costing EUR 1,964 per litre, according to the average prices disclosed by the Directorate-General for Energy and Geology (DGEG). 

These daily average prices, refer to “are calculated on the basis of the prices reported by the fuel stations, weighted by the quantities sold in the last known period, incorporating the discounts charged at the supply stations as fleet cards and others”. 

Confirming, this will be the second consecutive week of price worsening. 

Simple diesel has increased from EUR 1,966 per litre to EUR 2,026 per litre between Friday and Monday, while simple petrol 95 has increased from EUR 1,885 per litre to EUR 1,954 per litre between Friday and Monday. Accounts made, diesel has increased six cents and gasoline has seen its price rise 6.9 cents. 

How's the efficient price?

The efficient price of fuels rises this week to 1,984 euros in gasoline 95 simple and 2,102 euros in simple diesel, advanced on Monday the Energy Service Regulator (ERSE).

This indicator is an average weekly value calculated by ERSE taking into account international rates of refined fuels and freight, logistics, reserves, biofuels, retail and taxes.

The regulator points out, however, that this price is a “referential calculated by ERSE on the basis of the main costs associated with the availability of fuel to the consumer”, adding that “it is not a regulated price, a maximum price or a recommended price, since the public sales prices are freely defined by each operator”.

Thus, for week 17 to 23 August, the efficient pre-tax price is EUR 1,006/litre for simple petrol 95 and EUR 1,255/litre for simple diesel, and “after the inclusion of the ISP, the addition rate on CO2 emissions and VAT”, it is EUR 1,984/litre in simple petrol 95 and EUR 2,102/litre in simple diesel.

“ In view of the previous week, the efficient price increased by 3.8% in petrol and 4.0% in diesel oil,” said ERSE, pointing out that this evolution results, “in particular, from the variation in international gas and diesel prices, which are the most directly related references to the cost of fuels sold at the gas stations.”.

During this period, the international quotation of single petrol 95 and diesel increased by 11.0% and 9.8%, respectively.

The regulator points out that to understand the evolution of fuel prices, “the most important reference is not the quotation of the barrel of crude oil, but the international quotations of gasoline and diesel already refined”, considering shipping freights, logistics costs, the incorporation of biofuels, marketing and taxes.

[News updated at 8:32 a.m.]