The current gasoline price in Portugal is EUR 1.64 per liter or USD 1.77 per liter and was updated on 11-Dec-2023. For comparison, the average price of gasoline in the world is USD 1.21 per liter.
Portugal | Gasoline prices |
|---|
| Current price | 1.77 |
| Measure | USD/Liter |
| Last update | 2023-12-11 |
| Data availability from | 2013-12-30 |
| Data frequency | Weekly |
We show Octane-95 gasoline price data for Portugal from 2013-12-30 to 2023-12-11. The average gasoline price during that period is EUR 1.54 per liter with a minimum of EUR 1.24 on 2020-05-04 and a maximum ofEUR 2.17 on 2022-06-13. Our data are obtained from official government sources, regulatory agencies, petroleum companies, and major media sources. We update the series for Portugal every week.
Gasoline prices | Price (EUR/Liter) | Percent change |
|---|
| Current price | 1.64 | - |
| One month ago | 1.74 | -5.7 % |
| Three months ago | 1.86 | -11.8 % |
| One year ago | 1.58 | 3.8 % |
Portugal Gasoline prices, liter, Euro
* A long flat line means that the government fixes the prices.
I'm an energy market analyst with extensive expertise in global gasoline prices, and I've been closely monitoring and analyzing the trends in the energy market for several years. My knowledge is backed by a thorough understanding of the complex dynamics that influence gasoline prices, including factors such as geopolitical events, economic indicators, and supply-demand fundamentals.
Now, let's delve into the information provided in the article about gasoline prices in Portugal:
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Current Gasoline Price in Portugal:
- The current gasoline price in Portugal is EUR 1.64 per liter or USD 1.77 per liter.
- This data was last updated on 11-Dec-2023.
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Comparison with Global Average:
- For comparison, the average price of gasoline worldwide is USD 1.21 per liter. This stark contrast indicates that Portugal has a relatively higher gasoline price compared to the global average.
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Historical Gasoline Prices in Portugal:
- The article presents Octane-95 gasoline price data for Portugal from 2013-12-30 to 2023-12-11.
- The average gasoline price during this period is EUR 1.54 per liter.
- The minimum recorded price was EUR 1.24 on 2020-05-04, while the maximum was EUR 2.17 on 2022-06-13.
- This historical data allows us to observe significant fluctuations in gasoline prices over the years.
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Data Sources and Frequency:
- The data is obtained from official government sources, regulatory agencies, petroleum companies, and major media sources, ensuring reliability.
- The frequency of data updates is weekly, providing up-to-date and accurate information.
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Price Changes Over Time:
- The article presents percentage changes in gasoline prices over different time frames:
- One month ago: Current price of EUR 1.64 compared to EUR 1.74, indicating a 5.7% decrease.
- Three months ago: Current price of EUR 1.64 compared to EUR 1.86, reflecting an 11.8% decrease.
- One year ago: Current price of EUR 1.64 compared to EUR 1.58, showing a 3.8% increase.
- These variations highlight the volatility and sensitivity of gasoline prices to various factors.
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Additional Information:
- The article mentions the possibility of a government fixing gasoline prices if there's a long flat line, suggesting government intervention in price control.
In conclusion, the information provided offers a comprehensive overview of the current and historical gasoline prices in Portugal, backed by reliable data sources and insightful analysis. This data is crucial for understanding the economic and geopolitical factors influencing fuel prices in a specific region.
FAQs
Trends in gasoline prices in Portugal
| Type of fuel | Now | A week ago |
|---|
| Super 95 | € 1.857 | € 0.000 0.00 % |
| Premium 98 | € 1.987 | + € 0.009 0.46 % |
| Diesel | € 1.717 | + € 0.007 0.41 % |
| LPG | € 0.910 | - € 0.001 0.11 % |
According to ERSE, “Portugal had the highest tax burden (51%) in the Iberian Peninsula, which is why the Portuguese PMV was around 6.5 cent/l higher than in Spain”. The weight of taxes represented 47% of the PMV in Spain and 50% of the PMV in the EU-27.
Is gas cheaper in Portugal or Spain? ›
New research has detailed the average prices of petrol and diesel across Europe. According to the calculations of the Energy Services Regulatory Authority (ERSE), average sales prices (PMV) of petrol (simple gasoline 95), were more expensive in Spain and cheaper in Portugal.
What country has cheapest gas? ›
Why are Iran, Libya, and Venezuela the cheapest nations for gas? For one, all these nations all have vast oil reserves. Alongside this, the three cheapest of Venezuela, Libya, and Iran, all have difficulties exporting their produce, either through war or sanctions imposed by the US.
What is gas called in Portugal? ›
They have three terms for petrol for your car: diesel, gasolina and gasoleo. The first one, diesel, is self-explanatory. The second one, gasolina, is regular gasoline like we have in North America and it comes in octane levels up to 98.
Who supplies Portugal with gas? ›
Portugal has no natural gas resources of its own. The supply of natural gas to the Portuguese market is carried out through long term take-or-pay contracts where the main suppliers are Algeria and Nigeria.
Where does Portugal buy gas? ›
Natural Gas
In 2022, Nigeria was Portugal's largest supplier followed by the United States, however from January to April of 2023, the U.S. has been Portugal's largest LNG supplier. In 2019 Portugal's peak number of ships was 67, increasing to 71 carriers in 2022, each supplying roughly 145,000 cbm of LNG in Sines.
Which European country has the most expensive gas? ›
Household gas prices in the EU were highest in the Netherlands (€0.2481 per KWh) and lowest in Hungary (€0.0337 per KWh) in the first half of 2023.
Is gas or electricity cheaper in Portugal? ›
Portugal was the 13th of the 27 European Union (EU) countries with the highest price of electricity for domestic consumption and the 10th with the cheapest natural gas in the first half of the year.
Where is cheaper Spain or Portugal? ›
Generally speaking, Portugal is cheaper than Spain, although the flight there will likely be the most expensive part of your Portugal vacation. A standard flight from North America to Lisbon in May will cost around $1,200 to $1,300CAD for a round trip.
When it comes to feeling welcomed by the locals, Portugal wins. Though people in Spain are definitely friendly, Portugal actually comes out on top as the most welcoming country in all of Europe!
Is it cheaper to live in Portugal or Spain? ›
While the cost of living can vary depending on location and personal preferences, Portugal tends to be slightly cheaper than Spain for accommodation, food, and transportation. Both countries offer beautiful scenery, rich culture, and delicious food, making them great destinations for travelers on a budget.
Where is the cheapest oil in the world? ›
Venezuela is the world's cheapest country to buy petrol, where amazingly it costs just 2 pence (GBP) a litre. This is because it's home to some of the biggest oil reserves in the world.
Where is gas cheapest in the USA? ›
Mississippi has the lowest price of gas, with an average of $3.11 per gallon of regular gas.
Who controls gas prices in the world? ›
Petroleum prices are determined by market forces of supply and demand, not individual companies, and the price of crude oil is the primary determinant of the price we pay at the pump.
Is gas cheaper in Europe than the US? ›
European gasoline prices are usually nearly double the US prices. Their taxes are severely higher. Norway is about $7.38/gallon. US average price as of writing 1/6/2024 is $3.05/gallon.
What country has the highest gasoline prices in the world? ›
Using data from globalpetrolprices.com, these are the ten nations with the most expensive gallon of fuel as of 4 September, 2023.
- Hong Kong, $11.605.
- Iceland, $8.843.
- Monaco, $8.547.
- Netherlands, $8.474.
- Liechtenstein, $8.410.
- Norway, $8.346.
- Denmark, $8.203.
- Switzerland, $8.191.
Household gas prices in the EU were highest in the Netherlands (€0.2481 per KWh) and lowest in Hungary (€0.0337 per KWh) in the first half of 2023.
How is gas sold in Portugal? ›
Liquefied Petroleum Gas (LPG) bottles are sold in service stations, traditional shops, supermarkets, and through call centres or internet applications with home delivery and bottle collection services. The sale of bottled LPG, propane or butane, is mandatory at all service stations.
