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After a week with green lights for price drops, everything points to a return next week to increases in fuel prices.
According to sources linked to the sector, from next Monday, November 25, gasoline should be 1.5 cents more expensive and diesel fuel should rise even more, around 2.5 cents.
If these values are confirmed, the average price is the Simple 95 octane gasoline costs €1,713/lalthough the plain diesel increases to €1.605/l.
The values already presented by DGEG include the discounts offered by gas stations, as well as the Government measures currently in force. However, it must be emphasized that these are not the prices you will find at gas stations. These are only average and indicative values.
In addition, each of the fuel reseller brands is always free to charge the price they consider to be the right price in their strategy.
The extraordinary fuel support measures are still in place, but have been gradually reduced.
The retreat of “tax rebates” will continue, which was reinforced in the State Budget proposal for 2025. Therefore, the Government proposes for 2025 “the end of the ISP exemption on advanced biofuels and the progressive freezing of the carbon tax”.
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A progressive update of the carbon tax will be one of the measures that will have the greatest impact on the evolution of fuel prices. It is worth remembering that it has already been updated three times since August 26 – the last one was in September.
Currently, the value of the carbon tax is 81 €/t of CO2, according to Ordinance no 210-A/2024/1. But it is still below R$83.524/ton, which was the value predicted for this year, if the freeze had not happened.
The cumulative impact of the carbon tax update on fuel prices is 7.5 cents per liter for diesel and 6.9 cents for gasoline (source: Eco).
The ISP “discount” is still there — 15.1 cents per liter on diesel and 16.3 cents per liter on gasoline — but the sum of all the help is predictably lower. A total of 17.6 cents per liter of diesel and 19.2 cents per liter of gasoline.
How can consumers effectively manage rising fuel costs in an uncertain economic landscape?
Interview between Time.news Editor and Fuel Economics Expert
Time.news Editor: Good day, and welcome to our in-depth interview on the current state of fuel prices. We have with us Dr. Clara Mendes, an expert in fuel economics and energy policy. Thank you for joining us, Dr. Mendes!
Dr. Clara Mendes: It’s a pleasure to be here!
Time.news Editor: So, let’s dive right into the topic. It seems like we’re heading back toward rising fuel prices yet again, with predictions of increases in gasoline and diesel by early next week. What’s driving this anticipated rise?
Dr. Clara Mendes: Yes, that’s correct. After a week of price drops, estimates suggest a 1.5-cent increase in gasoline prices and a more substantial 2.5-cent rise for diesel fuel. This reflects a combination of global oil price fluctuations and local market dynamics. Additionally, the gradual reduction of government support measures has also contributed to this upward trend.
Time.news Editor: Interesting. You mentioned government support measures. Can you elaborate on what those are and how they affect prices?
Dr. Clara Mendes: Certainly. The government has been implementing extraordinary fuel support measures, which include discounts and tax incentives intended to cushion consumers from drastic price changes. However, these measures are currently being scaled back, as outlined in the State Budget proposal for 2025. For instance, they are proposing an end to the ISP exemption on advanced biofuels alongside a freezing of the carbon tax.
Time.news Editor: Does this mean consumers will start to feel a significant impact at the pump due to these changes?
Dr. Clara Mendes: Absolutely. While average fuel prices currently reflect these supports, consumers will notice the absence of discounts as the government phases out these measures. Prices will likely rise as gas stations adjust their pricing strategies in response to the decreased subsidies.
Time.news Editor: So, what are the current average fuel prices, and how accurate are they when consumers go to fill up?
Dr. Clara Mendes: The latest figures suggest that the average price for Simple 95 octane gasoline is around €1.713 per liter, and plain diesel is about €1.605 per liter. However, it’s important to note that these are average indicative values. Actual prices at gas stations can vary significantly based on the brand and local competition, as retailers set their prices independently.
Time.news Editor: With the anticipated price hikes, how should consumers prepare for this change? Are there any strategies they can adopt?
Dr. Clara Mendes: There are a few strategies consumers can consider. One is to monitor fuel prices and consider filling up when they notice lower prices. Using loyalty programs offered by petrol stations can also help mitigate costs. adopting more fuel-efficient driving habits can make a noticeable difference in overall consumption, reducing the financial impact of rising prices.
Time.news Editor: Those are some practical tips, thank you! Looking ahead, do you believe we will see a stabilization in fuel prices, or should we brace for more volatility in the coming months?
Dr. Clara Mendes: It’s hard to predict with certainty, but given the ongoing geopolitical tensions and fluctuating oil markets, volatility seems likely. Additionally, governmental policies surrounding environmental changes may further influence future prices. Staying informed about these factors will be crucial for consumers.
Time.news Editor: Thank you, Dr. Mendes, for sharing your insights with us. As fuel prices remain a critical topic for many, it’s great to have expert opinions shedding light on these complex dynamics.
Dr. Clara Mendes: Thank you for having me! It’s important for consumers to stay informed and adaptable in this ever-changing landscape.
Time.news Editor: We appreciate your time. Stay tuned for more updates on fuel trends on Time.news!