Fuel prices are expected to fall next week, with more significant reductions in diesel, which could be up to 10 cents cheaper. The expectation comes after the recent understanding between the United States and Iran, which is relieving pressure on the oil market.
According to , the drop could be around 6 cents in gasoline and reach around 10 cents in diesel, if the forecasts are confirmed. Official confirmation should only come on Friday, with the usual update from Automóvel Clube de Portugal.
If this scenario comes to fruition, it will be a clear reversal of the trend recorded at the beginning of the week. On Monday, diesel had already fallen by around 2.6 cents, while gasoline registered a slight increase of half a cent. Now, the expected movement is more expressive and widespread, which could bring some relief to consumers.
International agreement puts pressure on oil prices
The origin of this drop is the recent memorandum of understanding signed between the United States and Iran, which reduced tension in the Middle East and unblocked one of the world’s main energy routes. The Strait of Hormuz, through which about a quarter of global oil and gas passes, must be reopened immediately.
The impact on the markets was practically immediate. The price of Brent oil, a reference in Europe, fell around 3% before the opening of European stock exchanges, remaining at US$77 per barrel. This is the lowest value since the beginning of March.
WTI oil, a North American reference, also followed the trend, falling more than 3% to close to 74 dollars per barrel. This decline reflects an expectation of greater supply in the global market, after months marked by transport constraints and geopolitical uncertainty.
The war in the Middle East, which began in late February, had contributed to a significant rise in crude oil prices. At the time, Brent was trading at close to US$72 per barrel, but ended up rising sharply due to the blockage of the Strait of Hormuz and instability in the region.
The reaction of financial markets to the agreement was generally positive. The main Asian stock markets recorded significant gains, with the Nikkei index, in Japan, rising almost 1.8% and the Kospi, in South Korea, rising 2.6%. In China, the Shenzhen stock exchange also showed slight gains.
Not all markets followed the upward trend. The Hang Seng in Hong Kong fell more than 2%, reflecting some caution among investors. In Europe, futures pointed to opening with slight drops, while in the United States, gains were anticipated, mainly in the Nasdaq technology index.
According to the same source, the most immediate effect of this change should be felt precisely in fuel prices, which closely follow the evolution of international oil prices. It now remains to confirm whether the expected relief will materialize at the pumps starting next week.
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