The carbon tax will be updated from next Monday, August 26, and will increase to 68,368 euros/tonne of CO2, according to a Finance Ministry decree published yesterday in Diário da República.
The government justifies the increase in the amount charged for emissions by “the recent evolution of fuel prices and the evolution of prices as a result of auctions of greenhouse gas emission licences, in particular the downward trend in fuel prices and the increasing trajectory of CO2 emission prices.”
Thus, the text of the decree emphasizes, “the government resumes the gradual unfreezing of the update of the carbon dioxide emission amendment.” This decision was taken at a time when sources in the sector told “Negócios” that next week fuel prices at gas stations should fall significantly: diesel will be cheaper by 3.5 cents, and gasoline should be reduced by four cents.
Now, with the update to the carbon tax, one of the pricing components, the relief for drivers’ wallets will be less.
The price of North Sea Brent crude, the benchmark for European imports, has fallen this week, closing at $77.99 a barrel yesterday morning, its lowest since January. Oil demand has slowed and renewed talks on a ceasefire in Gaza have eased supply concerns.