Lisbon, July 1, 2026 (Lusa) - The minister for the environment and energy said on Wednesday that the Portuguese Government had asked ENSE to analyse fuel price trends, as prices were not falling at the same rate as they had risen.

“We have already asked ENSE [the National Entity for the Energy Sector, (the public body responsible for managing strategic oil reserves and for overseeing the entire energy sector] to look into this matter,” said Maria da Graça Carvalho, in response to a question about fuel price trends, during a parliamentary hearing at the Environment and Energy Committee, requested by the PCP, on the Galp/Moeve asset sharing deal.

The issue was raised, despite being unrelated to the merger of the companies’ respective refining, petrochemical and fuel retail portfolios in the Iberian Peninsula.

The minister considered that the fact that fuel prices were not keeping pace with the fall in oil prices “makes no sense” and said that the government wants to understand “exactly why this is happening”.

The issue was raised after fuel prices rose following the US attack on Iran on 28 February and fears of disruptions to the international oil supply due to the closure of the Strait of Hormuz.

“It is something that makes no sense and, therefore, we want to understand exactly why this is happening,” emphasised Maria da Graça Carvalho.

ENSE has powers of inspection and supervision within the energy sector, including in the area of fuels.

The minister had noted during the same hearing that Portugal had weathered the recent energy crisis under more favourable conditions than other European countries, thanks to the Sines refinery on the Alentejo coast – which meets around 80% of domestic demand – and the diversification of fuel suppliers.

SCR/AYLS // AYLS

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