Portugal fuel prices to decrease starting Monday

Fuel prices in Portugal are projected to decrease starting Monday, November 16, 2026. Estimates from the Automóvel Club de Portugal (ACP) and Anarec indicate that both diesel and gasoline costs will drop at the start of the week.

Projected fuel price reductions

Diesel prices are expected to drop by 6 cents per liter according to estimates from the Automóvel Club de Portugal (ACP) and Anarec. For a standard 60-liter diesel tank refill, the cost is estimated to be 4.20 euros less than current rates. Gasoline prices are expected to decrease by 2 cents per liter based on the same estimates. A 60-liter gasoline refill is estimated to cost 1.20 euros less than previous prices.

The projected average reference price for diesel is 2.065 euros per liter, according to recent data from the Directorate-General for Energy and Geology (DGEG). The projected average reference price for gasoline is 1.891 euros per liter. While most estimates suggest a 6-cent reduction for diesel, media reports reported a 7-cent reduction for diesel. media reports also reported that the gasoline reduction was slightly higher than the reduction recorded on the previous day.

Global oil market volatility

The changes in domestic fuel costs occur alongside fluctuations in international energy markets. On Wednesday, November 11, 2026, Brent crude rose 1.39% to 92.76 dollars per barrel in London. During the same period, West Texas Intermediate (WTI) rose 0.57% to 86.53 dollars per barrel in New York.

Geopolitical tensions in the Middle East and attacks on refineries in Eastern Europe are contributing to market volatility. These factors influence the global supply and pricing of petroleum products. The strategic importance of maritime routes remains a significant factor in these market shifts. Approximately 20% of global oil and natural gas trade passes through the Strait of Hormuz, a region currently experiencing geopolitical instability, including tensions between the US and Iran.

Market drivers and regional impact

The volatility in the energy sector is driven by multiple international factors. Attacks on refineries in Eastern Europe and tensions in the Middle East create uncertainty in the supply chain. Such instability often impacts the reference prices used by national agencies like the Directorate-General for Energy and Geology (DGEG) to set domestic benchmarks. The Strait of Hormuz remains a critical transit point for 20% of the world's oil and natural gas trade, making the region a focal point for global energy security.

As the market reacts to these geopolitical developments, domestic prices in Portugal are expected to adjust accordingly. The projected reductions for diesel and gasoline reflect the latest data regarding international crude prices and regional supply dynamics. Consumers can expect the new pricing structure to take effect on Monday, November 16, 2026, following the recent trends in the global energy market.

Glossary

• Brent crude — Brent crude is a type of crude oil that serves as the world's leading crude oil benchmark. It is used to price more than 75% of globally traded oil cargoes due to its waterborne nature and broad market access.
• West Texas Intermediate (WTI) — West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of light crude oil used as a benchmark in oil pricing. It serves as the underlying commodity for New York Mercantile Exchange's oil futures contracts.
• Strait of Hormuz — The Strait of Hormuz is a critical transit point for 20% of the world's oil and natural gas trade. It is a significant maritime route and a focal point for global energy security.