Gasoline rose to its highest price of the year

While the price of gasoline is expected to fall by half a cent early next week, according to information provided by industry sources, this is the first time this has happened since early January, according to DGEG.

For regular diesel, the difference between the price recorded at the beginning of the year and at the end of this week is 10 cents more, with a liter selling for €1,649. The price of this fuel is expected to fall by two cents on Monday.

The drop came as the price of a barrel of Brent crude, Portugal’s benchmark, topped $90 in early April, its highest level in six months, according to a monthly report from the International Energy Agency, citing Lusa. The above-mentioned price of a barrel of oil corresponds to an increase of $13 compared to the same period in 2023.

The International Energy Agency attributes the increase to geopolitical factors such as conflicts in the Middle East or Ukrainian drone attacks on Russian oil infrastructure.

This reality suggests future increases in fuel prices, especially after oil producing countries announced they intend to maintain crude oil production cuts through June.