Edition 1479
16 June 2018
Edition: 1479

Read this week's issue online exactly as it appears in print.

Twitter

Taxes responsible for more than half price of fuel

by TPN/Lusa, in News · 24-05-2018 13:39:00 · 0 Comments

More than half the price of fuel sold in Portugal is the result of different kinds of taxes, particularly Oil Product Tax (ISP in the original Portuguese), which is the largest slice of the amount consumers pay.

Taxes responsible for more than half price of fuel

The European Commission (EC) said on Thursday that in the week of 14 May Portugal had the 10th most expensive Diesel at €1.35, but the price before taxes was only €0.62.
Unleaded 95 petrol, which is the best-selling fuel in Portugal, costs an average of €1.56 a litre but its real price without all the taxes was just €0.61.
The EC said petrol in Portugal was the 5th highest in the EU28 and it was 26 cents higher than in neighbouring Spain.
In 2016, the Portuguese government increased ISP by six cents a litre to offset a drop in revenues as the international oil prices came down and it promised to revise the tax rate every three months based on oil prices, which led to small fluctuations in the pump prices.
The next year, 2017, the government stopped revising the value of the tax even though oil prices have gone up.

Comments

Be the first to comment on this article

Interactive Topics, send us your comments/opinion on this article.


Please enter the letters as they are
shown in the image.
Letters are not case-sensitive.
Edition 1479
16 June 2018
Edition: 1479

Read this week's issue online exactly as it appears in print.

Twitter