The government reduced the tax burden on fuel! Find out how much you will save…

The government reduced the tax burden on fuel!  Find out how much you will save…

Today’s fuel price has a strong impact on the Portuguese wallet. In recent weeks, values ​​have increased and in this sense the government has slightly reduced the tax burden on fuel. Find out how much you will save.

Fuel: 2 cents per liter of diesel and 1 cent per liter of gasoline

The government has set the return of additional VAT revenues, through the tax on petroleum products, which will lead to an additional reduction of two cents per liter of diesel and one cent per liter of gasoline.

This brings the ISP discount to 15.1 cents per liter of diesel and 16.3 cents per liter of gasoline.

As mentioned hereTaking into account all the measures in place - namely the partial suspension of the modernization of the so-called carbon tax, which the government has kept unchanged - the tax cut amounts to a total of 25.1 cents per liter of diesel and 26.1 cents per liter of diesel from gasoline.

Fuel consumption in the first eight months of 2023 reached a record high over the past decade. Road fuel consumption until August, the last month according to published data, recorded an accumulated growth of about 8% compared to the same period last year. Moreover, fuel taxes in Portugal are lower than the Eurozone weighted average: 6% on diesel and 5% on gasoline (based on data from the European Commission's weekly oil bulletin).

The value of the discount on tax charges (ISP+VAT) must appear, in an updated form, as a mandatory indication, duly specified in the respective invoices or equivalent document.

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By Andrea Hargraves

"Wannabe internet buff. Future teen idol. Hardcore zombie guru. Gamer. Avid creator. Entrepreneur. Bacon ninja."