From Monday 9 November, diesel should fall by about 11 cents and petrol by 12.5 cents. Petrol is set to drop below €2
On Monday 9 November, fuel at the pumps should get noticeably cheaper: diesel by about 11 cents a litre and petrol by 12.5 cents, according to a forecast by the ACP motoring club. An industry source puts the figures a little lower, at 9 and 11.5 cents (Notícias ao Minuto).
According to the Directorate-General for Energy, DGEG, a litre of diesel currently costs €2.205 on average and petrol about €2. If the forecast is right, diesel will fall to about €2.095 and petrol to €1.876. Petrol has not cost less than €2 since the end of August. At any given station, the price may be higher or lower than the average (Dinheiro Vivo).
Diesel has not fallen this much since 21 March 2022, when a litre dropped by 13.18 cents. The reason is oil: Brent crude futures fell by almost 17% over the week, the sharpest drop since April 2020. Even so, since the start of March diesel has gone up by 57.5 cents and petrol by 30.3 cents (ECO).
Final prices will be known closer to Monday. They depend on how oil trading closes on Friday and on the discount on ISP, the fuel tax: the government has extended the discount until December but has not yet announced how large it will be next week. Prices by district are on our page How much fuel costs in Portugal.
