Europe: Fuel prices news in Portugal

Galp prepares to change, but the process will be lengthy and will put Brussels' new approach to the test

Fuel prices rise by 31.4% in the EU in September

Following year-on-year increases of 16.9% in July and 23.8% in August, September stands out with a 31.4% rise. Bulgaria, Estonia, and Lithuania recorded the largest increases. Portugal ranks 15th.

European Council. Montenegro supports joint gas purchases and strengthening European refining

The Prime Minister states that the problem with fuel prices lies not in oil purchasing markets, but in the price formation of the fuels themselves. At the end of the European Council, Luís Montenegro stated that Brussels is studying a joint approach to address the increase in gas prices.

USA and Saudi Arabia have "a dilemma" on their hands that could culminate in a new rise in fuel prices

Manuel Serrano, a commentator for CNN Portugal, analyses the possibility of a joint operation between the Saudis and the Americans against the Houthi rebels.

If this surprising announcement from Trump comes to fruition, it could dampen diesel prices slightly

Pedro Sampaio Nunes, an energy expert, analyses the impact that the alleged energy ceasefire between Ukraine and Russia could have on fuel prices, particularly in Europe.

Trump wants to lower fuel prices with Venezuelan and Russian oil. And that brings dilemmas to the European Union

Economist João Rodrigues dos Santos explains the basis for the increase in fuel prices, especially the role of the US President in this matter, where the rise in the cost of this commodity is even more noticeable. The university professor also believes that “Donald Trump seems desperate to lower fuel prices,” but the results may not be as expected.

EU countries will release fresh oil stocks only after top agency assessment

The agreement means EU countries will for now only release the barrels agreed in March.

It is important to unblock the Strait of Hormuz

Filipe Santos Costa, a researcher at the National Defence Institute, points out that “Europe imports about 15% of the diesel it consumes”.

Trump praises Europe for releasing diesel

US President Donald Trump praised European countries for the G7 agreement to release 100 million barrels of oil and diesel to ease fuel prices, and ruled out a ban on diesel exports. “Europe was great, as they are going to release a lot of diesel. They use diesel in a way...”

G7 to release 100 million barrels of diesel and oil after Trump threatens EU with export cuts

The US President demanded that major European countries, including France and Germany, release 100 million barrels of diesel within 20 days, even threatening the EU with a potential ban on US diesel exports.

Fuels. European Council to decide on measures soon

Graça Carvalho reinforced that Brussels must consider “the diversity of the countries” and revealed that she will submit questions “in writing” in response to the letter sent by the European Commissioner for Energy.

October European Council to make decisions on the response to the fuel crisis

“The lack of coordination allows certain states to grant substantially larger support to specific industrial sectors,” stated Minister Maria da Graça Carvalho.

Government refuses to lower fuel VAT and asks the EU for a "more proactive attitude" to "reduce competition problems"

The EU asked the 27 member states to reduce electricity and gas consumption, but Maria da Graça Carvalho guarantees that these measures “do not make sense for Portugal”, as the country is mainly facing “problems with the price of petrol, diesel, and jet fuel”. “We hope that, at a European level, there will be a more proactive attitude,” she said.

Energy Minister calls for a "more involved" EU in the fuel crisis

The Minister of Energy requested today in Brussels that the European Union (EU) be “more involved” in the current fuel crisis, advocating for a coordinated community response that takes into account the different realities of the member states.

Trump’s diesel export threat meets a shrug in fuel-strapped Europe

The U.S. supplies more than half of Europe's diesel, and a ban would be “very serious” for the continent's energy supply.

Average diesel price at European Union pumps hits all-time high

Records were broken in 19 EU countries due to the impact of the energy crisis resulting from wars in the Middle East and Ukraine.

Trump argues that the US should stop exporting diesel

With fuel prices reaching historic highs in Europe, there is another factor that could worsen the energy crisis triggered at the end of February by the conflict in the Middle East. US President Donald Trump said this Tuesday that he supports a ban on diesel exports, at a time when rising prices...

How can the Houthis drive your fuel bill even higher?

The analysis by Colonel Mendes Dias, a military expert for CNN Portugal, explains how so-called 'functional power' is applied in the Middle East, impacting fuel supplies after the Houthis threatened a crucial route for Saudi Arabia.

Trump threatens to "deal with" the Houthis. Oil tankers turn back in the Red Sea and fuel prices rise

The threat from Yemen's Houthi rebels is having consequences: two oil tankers made a U-turn in the Red Sea after loading Saudi oil.

Closure of the 'gate of tears' will be "devastating": without the Bab el-Mandeb Strait, fuel prices will skyrocket

Tiago André Lopes, a commentator for CNN Portugal, analyses the impact of the Iranian threat to close the Bab el-Mandeb Strait in the Gulf of Aden.

Russia bans diesel exports due to shortages

The measure is taken in an attempt to increase fuel availability in the domestic market in the face of shortages caused by Ukrainian attacks on energy infrastructure.

Russia halts diesel exports after Ukraine strikes refineries

Kremlin says it will begin importing fuel to stabilize supplies at home.

Announcement of ceasefire end causes Brent crude oil price to soar 5.92% and exceed 78 dollars

Donald Trump stated this Wednesday that the ceasefire with Iran has ended and labelled the Iranian leaders as “scum” and liars.

Spanish government ends VAT discounts on fuel

VAT on fuel in Spain will return to 21% starting Wednesday, after having been extraordinarily set at 10% for over three months due to the war in Iran, the government announced this Monday. The Spanish government approved a package of measures in March to respond to the impact of the war on prices.

Iran calls for the United States to abandon "excessive demands" for negotiations

On Sunday, Donald Trump promised an escort for “neutral and innocent” ships trapped in the Strait of Hormuz that wish to leave those waters. The United States operation will mobilise more than 100 aircraft, destroyers, drones, and 15,000 military personnel in what it has called “Project Freedom”. We are following the evolution of the conflict here, minute by minute.

Brussels accepts extra reduction in ISP, but not in VAT on fuels

Member states may request authorisation for extraordinary reductions in ISP beyond the minimum levels defined by the EU directive.

Brussels pushes for energy transition, but Member States focus on immediate crisis response

The fuel crisis caused by the war in Iran is being used by Brussels to try to accelerate a structural transformation towards clean energy and energy efficiency. However, the countries' response is primarily focused on measures for immediate mitigation of the impact of rising prices and the potential political 'cost' it may bring them.

European Commission creates Fuel Observatory

The new Fuel Observatory will monitor the production, import, export, and reserve levels of transport fuels in the EU to quickly identify potential shortages.

Fuel prices for private use rise 12.9% in March in the EU

The price of fuel for private transport rose by 12.9% in the European Union (EU) and 12.2% in Portugal in March compared to the same month last year, Eurostat reported this Monday, the 21st. Up until February, the EU's statistical office noted that the price of fuels and lubricants for private transport in the bloc was generally decreasing, both in the EU average and in most EU countries. However, a significant increase was recorded in March 2026 due to tensions in the Persian Gulf and the closure of the Strait of Hormuz by Iran. In March, almost all EU countries also recorded year-on-year price increases, led by Germany (19.8%), followed by Romania (19.6%), the Netherlands (18.8%), Latvia (18.5%), and Austria (17.2%). In Hungary and Slovenia, prices fell by 2.7% and 5.9%, respectively, compared to March 2025. Shipping has been paralysed again since Monday in the Strait of Hormuz, with Tehran and Washington imposing separate blockades, and Iranian ships continuing to test the American blockade. Iran reversed its decision to reopen the waterway on Saturday, worsening tensions with the United States before the end of the ceasefire, which could theoretically end between tonight and Wednesday morning, Tehran time. The United States and Israel began airstrikes on Iran on 28 February, and the situation in the Persian Gulf has worsened due to blockades imposed on cargo ships, especially oil tankers. Iran: Brussels wants electricity to be taxed less than fuel and warns about subsidies provided in the EU.