LUSA 10/18/2024

Lusa - Business News - Portugal: Taxes responsible for half of fuel price in August

Lisbon, Oct. 17, 2024 (Lusa) - According to data from the regulator released on Thursday, axes accounted for 52.2% of the total retail price of petrol and 46.6% of the diesel bill in August, when the government updated the carbon tax.

According to the Fuel and LPG Market Report for August, published by the Energy Services Regulatory Authority (ERSE), the retail price (PVP) of plain petrol fell by 2.2%, following the behaviour of international markets, with the largest share of the PVP paid by the consumer corresponding to the tax component, representing 52.2% of the total petrol bill, followed by the price and freight (32.4%).

ERSE recalled that in August, the government increased the value of the surcharge on carbon dioxide (CO2) emissions, commonly known as the carbon tax. This represents an increase of 3.3 cents per litre of petrol compared to July.

Operating costs, marketing margins, the incorporation of biofuels and logistics, and the constitution of strategic reserves together accounted for around 15.4% of the average retail price of plain 95 petrol.

As for plain petrol, the diesel price also fell in August (- 2.7%) and the largest share of the price paid by the consumer also corresponded to the tax component (46.6%).

In this case, the carbon tax update represented an increase of 3.7 cents per litre compared to the previous month.

Price and freight accounted for 35% of the total RRP, while operating costs and marketing margin, the incorporation of biofuels, logistics, and the constitution of strategic reserves together accounted for around 18.4% of the average RRP for straight diesel.

The carbon tax update for liquefied petroleum gas for automobiles (LPG Auto) increased by 4.3 cents per litre compared to July.

The average RRP increased by 1.2% compared to the previous month, and the largest share paid by the consumer also corresponds to the tax component (52.2%), followed by the price and freight (36.1%) and costs and margin (11.7%).

MPE/ADB // ADB.

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