Fuel Prices in Madeira to Rise Starting Monday
Madeira GuideFuel prices in Madeira are set to increase as of Monday, August 24, affecting both locals and tourists. The rise is attributed to international oil price fluctuations.
Starting from 00:00 on Monday, August 24, residents and tourists in the Autonomous Region of Madeira will see an increase in fuel prices. The Regional Secretariat for Economy has announced that the prices for both gasoline and diesel will rise, citing changes in international oil prices as the primary reason.
The price of IO95 unleaded gasoline will increase by 7.4 cents, setting the new price at 1.860 euros per liter, up from 1.786 euros. Road diesel will see a 7.7-cent rise, reaching 1.974 euros per liter. Additionally, colored and marked diesel used in agriculture will increase by 7.1 cents, making the new price 1.501 euros per liter.
The unchanged rates of the Petroleum Products and Energy Tax (ISP) indicate that the price hikes are not due to local fiscal policies but rather the volatile nature of international petroleum markets. This pricing adjustment will remain effective from August 24 to August 30.
The weekly review of maximum fuel prices in Madeira is managed by the Regional Government, specifically the Regional Secretariat of Economy and the Regional Secretariat of Finance. Factors considered include international oil prices and transportation costs.
For those traveling or residing in Madeira, understanding these price changes is crucial as they impact daily expenses and travel budgets. With tourism being a significant aspect of Madeira's economy, both locals and visitors will need to adjust to the new fuel costs.
Sources
Madeira Guide
Author