Fuel prices will rise again next week, despite the ISP tax relief approved this Friday by the Regional Government.
Thus, 95 Octane Gasoline will be more expensive by 4.9 cents per litre, from the current 1,766 euros to 1,815 euros from 00:00 on next Monday, according to the maximum prices fixed this Friday by decree of the Autonomous Region of Madeira and valid for the week of October 24th to 30th.
The increase will be greater in diesel for road use – another 8 cents – whose liter will cost 1.826 euros, when the maximum price is currently set at 1.746 euros.
Also marked and colored diesel will suffer a significant increase in price from next week. From the current 1,377 euros, each liter will cost 1,467: plus 9 cents/liter.
These are the maximum fuel sales prices in Madeira, valid for the last week of this month.
The rise is not greater only because the Regional Government carried out a change this week in the rate of the Tax on Petroleum Products (ISP) in force in RAM, namely the one levied on 95% unleaded gasoline.
According to the decree published today in the Official Journal of the Region (JORAM), the Madeiran executive took into account the evolution of fuel prices: “the average selling price of gasoline and diesel to the public, in 2022, increased substantially compared to the price verified in 2021, as a result of the war on the eastern border of Europe and the reduction in the amount of raw materials available, in international markets, to satisfy the demand for fuel”.