Fuel prices in Portugal fall by up to 9.5 cents this Monday
The week began with one of the biggest fuel price cuts in Portugal since March, down 9–9.5 cents on petrol and diesel; it would have been bigger but the government reduced the ISP discount.
If you filled up your car this Monday, you will have noticed that the amount you paid allowed you to put a little more fuel in the tank than has been usual since Donald Trump and Netanyahu attacked Iran at the end of February. This morning, petrol in Portugal was 9.5 cents cheaper and diesel was down 9 cents.
It was supposed to fall further. According to an estimate by the Automóvel Clube de Portugal (ACP) (source in Portuguese) , the price of petrol should have fallen by 12.5 cents and that of diesel by 11 cents, but as the government reduced the extraordinary discount on the Imposto sobre os Produtos Petrolíferos (ISP), prices at a petrol station in central Lisbon this Monday were €1.92 for regular 95 petrol and €2.13 for premium diesel, according to the simulator available (source in Portuguese) on the DGEG portal.
The fall in fuel prices could "be very slow" , according to the Minister for the Environment and Energy.
In comments to Rádio Renascença (source in Portuguese) , Maria da Graça Carvalho admitted that the "trend is down", but the minister recalled that this development depends on external factors , such as the "destruction of refineries", not only in the Middle East but also "in Russia and Ukraine", whose facilities will take "a very long time to be rebuilt, repaired or even built from scratch".
The war in Iran and the resulting closure of the Strait of Hormuz, as well as the continued attacks on oil tankers trying to cross the Persian Gulf since March this year, are affecting fuel prices in Portugal and worldwide.
Although Portugal secures its supply of crude oil from other regions, such as Brazil, with about 42.3% ( in 2025 (source in Portuguese) ), Algeria (19.6%), Nigeria (10.6%), Azerbaijan (10%) and the US (7.6%), our country is affected by the price , "because it is global", the minister also stressed.
On Friday, the price of a barrel of Brent closed at 98.68 dollars, 15.11 dollars (13.32%) less than the previous week (Friday 30 October), and at 15:00 this Monday Brent was trading at 94.00 dollars per barrel.
This easing in benchmark prices is a good indicator of further falls. However, the uncertainty surrounding the conflict between the US, Israel and Iran means fuel prices remain highly volatile.
