Friday, November 4, 2016

Fuels will have the biggest decline in nine months – Jornal de Negócios – Portugal

The fuel prices will register a sharp drop from the next Monday at the filling stations in Portugal, reflecting the strong devaluation of the raw materials in international markets throughout this week.

The calculations of the Business, based on price quotes available on Bloomberg, point to a drop of 3.5 cents in the selling price of diesel from Monday. If so it will decline more pronounced in this fuel since the penultimate week of last year.

The gasoline also falls, but less sharply. The evolution of the prices of the raw material points to a reduction of 2 cents per liter, which represents the low stronger since the last week of January.

The biggest drop in the price of fuel in Portugal in the space of nine months will void five consecutive weeks of deterioration of the prices, returning thus to the levels reported at the beginning of October.

according To the Directorate-General for Energy and Geology (DGEG), on Monday the average sale price of diesel is simple was of 1,189 euros, so that it has margin to go down to 1.15 euros in the next week. Already the litre of petrol simple should stay with an average price below 1.39 euros.

The price cuts this week reflects the lowering of prices of raw materials on international markets. The metric ton of diesel (in euro) went down by 8.5%, while the fall of the metric ton of gasoline approached 4%.

the declines reflect the drop in oil markets, in a week in which some of the OPEC countries gave signs of divergence over the cuts in production and reserves of crude oil in the USA has sharply increased. The factor exchange rate (the euro recovered ground against the us dollar) also contributed to the decline more pronounced fuel to the Portuguese consumers.


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