The Entidade Reguladora dos Serviços Energéticos announced that Portugal's benchmark efficient price for petrol fell one percent while diesel rose 1.2 percent this week.
Calculations released on Monday by the regulator, known as ERSE, set the price for simple 95 octane petrol at 2.058 euros per litre and simple diesel at 2.289 euros per litre.
The regulatory body explained that the movement was driven by shifts in international markets and shipping costs, with international quotations including freight dropping 1.8 percent for simple 95 petrol and rising 2.4 percent for simple diesel compared to the previous week.
Components of the efficient price
The efficient price represents a weekly theoretical reference value calculated by ERSE to reflect the fair cost of automotive fuel under competitive market conditions. The authority determines the benchmark based on international fuel market prices, primary logistics, the additional costs associated with incorporating biofuels, retail distribution costs, and taxes.
ERSE stated in its weekly report that the benchmark was calculated after incorporating the tax on petroleum products, known as ISP, the carbon dioxide emissions addition levy, and value added tax.
In Portugal, the energy regulator publishes these official benchmarks each week to provide motorists and businesses with a transparent reference point against which retail fuel prices can be evaluated.
Pump prices and consumer discounts
The regulator also analysed retail prices announced at service stations during the period, identifying distinct deviations from the theoretical benchmark for each fuel.
Average advertised retail prices at Portuguese filling stations stood 0.7 euro cents per litre above the efficient price for simple 95 petrol, which ERSE recorded as a deviation of 0.4 percent. In contrast, advertised prices for simple diesel averaged 0.9 euro cents per litre below the efficient benchmark, representing a deviation of minus 0.4 percent.
When promotional discounts and loyalty programmes were factored in, actual prices paid by consumers were significantly lower across the board. Discounted simple petrol prices settled 4.6 euro cents per litre below the efficient benchmark, reflecting a downward deviation of 2.2 percent.
Discounted diesel prices recorded an even larger difference, standing 7.2 euro cents per litre below the efficient price, which the regulator calculated as a deviation of minus 3.2 percent.
