The government has finally announced the date for the tax cut on petroleum products: it will be next Monday, May 2nd. Prime Minister António Costa announced the matter in Parliament on Thursday at the start of the state budget debate.
This is the second tax cut since Russia’s invasion of Ukraine began, but more significant than before. The total effect is a decrease in the sales prices of petrol and diesel by more than 20 cents.
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Until Monday, the first tax cut will apply, lowering the price of a liter of diesel by 4.7 cents and 3.7 cents a liter of gasoline. The government at the time estimated that as a result of the first (current) and second (now planned) rebates, “the reduction in the selling price to the public due to the ISP’s bill would be” 21.5 cents for diesel and 20.7 cents for gasoline.
Thus, it can be estimated that diesel and gasoline prices will fall another 17 cents on Monday.