Portugal increases ISP fuel tax discount amid expected price rises (eco.sapo.pt)

• Diesel discount increased by 0.54c/l, gasoline by 0.39c/l from July 6.
• Accumulated fuel price increases since March: diesel +13.7c, gasoline +17.3c.
• Brent futures at $72.11/bbl, spot price below forward contracts signaling short-term oversupply.
• Government requested ENSE to analyze slow price descent.

"The Portuguese government will increase the discount on the ISP fuel tax on diesel and gasoline from July 6, 2026, due to expected price rises. The diesel discount rises by 0.54 cents per liter, gasoline by 0.39 cents per liter, as published in the Diário da República on Friday, July 3. The adjustment follows accumulated increases of 13.7 cents for diesel and 17.3 cents for gasoline since March, when the Strait of Hormuz closure drove up prices. The government has asked the energy regulator to analyze price movements, as fuel prices have been slow to fall despite declining crude."