The government has approved new extraordinary reductions in ISP tax rates for mainland Portugal, resulting in savings of 1.8 cents per litre for diesel and 3.3 cents for petrol next week. Including previous temporary discounts, total savings will reach 6.1 cents for diesel and 3.3 cents for petrol compared to early March prices. Unleaded petrol is now included in these tax cuts due to a projected price increase exceeding 10 cents. These measures follow warnings from the National Association of Fuel Retailers (Anarec) regarding significant price hikes driven by geopolitical tensions in the Middle East, specifically the closure of the Strait of Hormuz, which has pushed Brent crude prices above $100 per barrel. In response, the International Energy Agency (IEA) is releasing 400 million barrels from strategic reserves to stabilise supply.