Portugal sees diesel slip slightly as gasoline rises, narrowing the price gap

Data from the Direção-Geral de Energia e Geologia showed diesel at €2.146 per litre and 95-octane gasoline at €2.073 last week. Analysts now anticipate diesel to retreat by one cent to €2.136, while gasoline is projected to rise five cents to €2.123, narrowing the previous gap. For a standard 50-litre tank, this translates into a small increase in gasoline expenses and a minor reduction for diesel.

The executive branch confirmed that the ISP discount - roughly €0.096 per litre for diesel and €0.078 for gasoline - stays in effect through year-end, following a budget proposal by Joaquim Miranda Sarmento. A new decree-law will require stations to display the discount label, with penalties for non-compliance. Fuel prices remain pressured by reduced global oil supply and higher refining costs, linked to the ongoing Middle East conflict. Brent futures slipped over 1.5% after Donald Trump posted that the United States was in “productive discussions” with Iran and would hold off on attacks before the November elections, though later reports indicated US plans for limited strikes.