Fuel prices in the Azores are set to decline in July, with gasoline falling by 1.9 cents per liter and diesel dropping by 10.4 cents per liter.
The reductions follow a decision by the Azores Regional Government to increase the cut on the Tax on Petroleum Products (ISP), reversing a significant price hike seen earlier in the year.
The move comes after fuel costs surged in May, when gasoline prices rose by 21.7 cents per liter and diesel jumped by 36.3 cents.
The new tax adjustment aims to stabilize costs for consumers and businesses in the region, which faces higher baseline energy expenses due to its geographic isolation.
This development aligns with a broader trend of easing fuel costs in Portugal, where mainland pump prices have also begun to soften.
Recent reports indicate diesel prices on the mainland have dropped by approximately 10 cents per liter, while gasoline has fallen by 5 cents, signaling a potential shift in the domestic energy market.