Fuel prices to drop.

Following the change in the formula for calculating maximum prices for fuels, the price of gasoline and diesel will fall in the Autonomous Region of Madeira next Monday.

According to the regional secretary for the Economy, Rui Barreto, “this change in the formula had a very positive impact, leading to a drop in fuel prices, with a reduction of 4.5 cents per liter of gasoline and 5.8 cents per liter for diesel”.

This is, according to the official, “good news, given that fuel prices have been rising for several months now, not because the Regional Government has introduced the increase in the tax burden in the calculation of the price of fuels set, later, in the resellers, but by the galloping evolution of the price of crude in international markets”.

Rui Barreto also points out that, “this was a change that had to be made, with the departure of the United Kingdom from the European Union, which was part of the list of 13 countries, it was necessary to change and, as a result, we made some adjustments from the point of view of tax, so that the price would be reflected positively, containing the rise in the price of fuel that has been occurring”.

From Diário Notícias