A go-slow protest and a cacophony of car horns marked the day petrol and diesel prices rose again, reaching record highs at home and across Europe.
Portugal woke up to yet another fuel price rise, which in the case of diesel reached a historic high. This time, the increase in prices, which has been occurring throughout the year, was marked by protests on roads across the country.
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In the morning, a car horn protest on the 25 de Abril bridge could be heard on the crossing that links Lisbon to the city of Almada, on the south bank of the River Tagus.
At the same time, further south, a go-slow march towards Galp's refinery in Sines, in the district of Setúbal, was getting under way. The protest, organised on WhatsApp and social media, was still ongoing after lunchtime and had no set time to end.
Images on social media showed cars with Portuguese flags on their bonnets, sounding their horns. According to the Lusa news agency, protesters were also carrying placards reading "Enough of fuel price rises" and "Families can't take any more". The GNR told the agency that between 60 and 100 vehicles took part.
Petrol at its highest since the invasion of Ukraine
According to forecasts by theAutomobile Club of Portugal (ACP) (source in Portuguese), diesel rose by 15 cents this Monday (to 2,169 euros per litre) and petrol increased by 12 cents (to 2,142 euros per litre).
These amounts do not take into account the reduction in the Tax on Petroleum Products (ISP), applied by the government on an exceptional basis, which capped the increases at an additional 12 cents for diesel and 9 cents for petrol.
This is the highest diesel price ever, according to Dinheiro Vivo's calculations (source in Portuguese). As for petrol, this is the highest level since the energy crisis triggered by Russia's invasion of Ukraine in 2022.
Portugal among the highest prices
Fuel prices in Europe have been rising throughout the year. In Germany too, Frankfurter Allgemeine (source in Portuguese) reports that fuel prices have reached an all-time high, with petrol surpassing the record of 2.203 euros per litre set in March 2022.
But Portugal is among the countries with the highest fuel prices. Thefuel-prices website (source in Portuguese), which aggregates fuel prices in 21 European countries, showed this Monday that Portugal is the 19th most expensive country for petrol. Only France and Denmark rank higher.
For diesel, the position improves to 17th place, ahead of the United Kingdom, Italy, France and Denmark.
The surge in prices even prompted Portugal's environment and energy minister, Maria da Graça Carvalho, to request a study from the Energy Services Regulatory Authority (ERSE).
But the study, published in mid-August, found "no evidence of profiteering by operators". It also said there was no "rockets and feathers" phenomenon, with prices rising quickly and falling slowly.
"The results do not therefore support the notion that reductions are passed through persistently more slowly or less completely than increases," the study says.
ERSE also justified the difference in prices with Spain by pointing to taxes. But it stressed that in Portugal the tax burden has remained constant, "in line with most countries in the European Union and the eurozone".
Hormuz and refining capacity
The rise in fuel prices in Europe has been linked to the conflict in the Middle East and the blockage in the Strait of Hormuz, which has disrupted trade routes.
But experts also point to limited refining capacity, even when crude oil is available. This situation particularly affects diesel.
On the tax front, an extraordinary tax on oil companies' profits is now on the table. According to AFP, ministers from Portugal, Germany, Italy, Austria, Poland and Spain have sent a letter to Ireland's finance minister asking that the issue be discussed at the next meeting of finance ministers. The meeting is scheduled for 18 and 19 September in Ireland, which holds the rotating presidency of the European Union.
