February 23, 2020 English news blog from the Algarve

Fuel prices drop for a fourth consecutive week

2020 has seen petrol prices go down. The new coronavirus might be the reason.

Following a global tendency, fuel prices in Portugal have dropped now for the fourth consecutive week. This new reduction sees diesel decrease by one cent per litre, while unleaded petrol will be two cents per litre cheaper.

Positive variations on international markets see unleaded fuel drop under 1.50 euro/litre for the first time this year, while diesel falls to around 1.37 euro a litre.

The coronavirus originated in Wuhan, China, is said to be the main reason for the recent decreases. While having a large impact on global travel, according to economists, it also reduced the international price of crude oil.

Crude has fallen from 64 dollars a barrel to 50 dollars during the last month.

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