Sand you need to fill up your car’s tank, know that this Monday fuel prices will register different behaviors: gasoline will get cheaper, but the price of diesel will rise again. In view of these forecasts, the Government announced a new change in the Tax on Petroleum Products (ISP).
Industry source revealed to the News by the Minuteon Friday, that the increase in diesel could reach six cents per litre, while gasoline should be cheaper by around four cents per litre.
This means that, with this increase, the average price of simple diesel will remain above two euros per liter. The most recent data from the Directorate-General for Energy and Geology show that simple diesel cost, on average, 2,038 euros per liter on Sunday, June 19, while simple gasoline 95 cost, on average, 2,162 euros per liter. .
In this context, the Government decided to return to work with the ISP. The ISP reduction as of this week will be 22.2 cents per liter of diesel and 26.3 cents for gasoline, which translates into an additional 1.2 cents for gasoline and 0.4 additional cents for diesel.
It is worth noting, however, that the Prices may vary depending on the brand and location of the gas station.
According to a statement released by the Ministry of Finance on Friday, “taking into account the perspective of price developments next week and the price changes observed in the last two weeks, there will be a further reduction in ISP fees. [Imposto Sobre os Produtos Petrolíferos] in both fuels, starting next Monday, June 20th”.
Thus, he indicated, “the tax burden (ISP + VAT) is reduced by an additional 1.2 cents per liter of gasoline and an additional 0.4 cents per liter of diesel”.
In the same communiqué, Finance mentions that “over the next week, the global relief of the tax burden on fuels through the two measures in force – weekly mechanism for reviewing the ISP and reduction of the unit rates of this tax to the equivalent of a VAT of 13% – totaling 22.2 cents per liter of diesel and 26.3 cents per liter of gasoline”, with “to these amounts added the non-updating of the carbon tax by about six cents per liter”.
According to the government, “the diesel ISP rate drops to the minimum permitted by Directive 2003/96/EC, of 27 October”, adding that “Portugal already asked the European Commission, in April, to derogate from the application of the minimum limits imposed by the aforementioned Directive, under its article 19, the evaluation of the request by the services of the European Commission is in progress”.
The tutelage also informed that “in the scope of the weekly review of the ISP update mechanism, which ensures the return of any extraordinary VAT revenue in view of the perspective of price evolution, the situation will be reassessed next Friday, June 24th. “.
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