Protesters in Portugal staged demonstrations against rising fuel costs, which reached record highs for diesel, as the government defended its tax policies.

Drivers in Portugal held protests on Monday as fuel prices reached record highs, with diesel hitting an all-time peak. Demonstrations included a horn protest on the 25 April Bridge in Lisbon and a go-slow march toward the Sines refinery, with participants citing the financial burden on families.

Price Increases and Market Context

According to the Automobile Club of Portugal, diesel prices rose by 15 cents to 2.169 euros per litre, while petrol increased by 12 cents to 2.142 euros per litre. These figures exclude government-applied reductions to the Tax on Petroleum Products. While prices have risen across Europe, Portugal ranks among the countries with the highest fuel costs in the European Union.

Government Response and Regulatory Findings

Minister for Environment and Energy Maria da Graça Carvalho stated that the price hikes align with broader European trends. She noted that the government has implemented measures to soften the impact, including tax reductions and support for the agricultural and social sectors. A study by the Energy Services Regulatory Authority found no evidence of operators profiting from the crisis or delaying price decreases.

International Factors and Future Discussions

Experts attribute the European fuel price increases to limited refining capacity and trade route disruptions linked to the conflict in the Middle East. Ministers from several European nations, including Portugal, have requested that the potential for an extraordinary tax on oil company profits be discussed at an upcoming meeting of finance ministers in Ireland.