The price of a barrel of Brent crude has returned to pre-conflict levels in Iran, but the drop is unlikely to reach consumers now. diesel and gasoline are expected to remain unchanged next week, still above pre-war values.
The price of oil has already returned to pre-conflict levels in Iran, but the drop should not yet be felt at Portuguese pumps.
According to , the liter of diesel should remain in the next week 1,769 euroswhile simple 95 gasoline will continue in 1,877 euros.
The evolution contrasts with the recent drop in the price of Brent, a reference for European imports, which is now traded at around US$73 per barrel. In recent sessions, the oil market has been marked by a downward trend, fueled by optimism regarding the increase in global supply.
The reopening and gradual resumption of circulation through the Strait of Hormuz, one of the most important energy routes in the world, through which around 20% of global oil trade passes, contributed to this change. The temporary lifting of US sanctions on Iranian oil also helped calm markets.
Faced with the highs reached during the war, the price of oil has already fallen by around 40%, after a barrel of Brent reached around US$120. The transport of liquefied natural gas and fertilizers is also being resumed, the scarcity of which threatened to put even more pressure on food prices.
But fuel remains more expensive than before the war: at that time, diesel cost 1,626 euros per liter and gasoline 1,684 euros.
