Diesel prices in Portugal climbed 30% year-on-year in May, reaching an average of €1.977 per liter, while gasoline 95 rose 19% to €2.000 per liter, according to data from the Directorate-General for Energy and Geology (DGEG).
The figures mark a significant acceleration in consumer energy costs compared to the same period last year, when diesel averaged €1.517 per liter.
The surge in Portuguese fuel prices mirrors broader trends across the European Union, where diesel prices jumped 29% and gasoline rose 16% year-on-year in May.
The surge in Portuguese fuel prices mirrors broader trends across the European Union, where diesel prices jumped 29% and gasoline rose 16% year-on-year in May.
This widespread increase in pump prices is emerging as a primary driver behind the eurozone's consumer price index, adding headwinds to the European Central Bank's efforts to stabilize inflation.
Recent data from Jornal Económico indicated that diesel prices in Portugal had already risen by three cents per liter, with gasoline becoming two cents more expensive, highlighting the persistent upward pressure on household budgets.
The latest DGEG figures confirm that this trend has intensified, with the annual comparison showing a much steeper climb than the month-on-month adjustments suggest.