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Fuel Shortages and Rising Petrol Prices

The lack of definition, the scarcity of raw materials, the energy crisis and now the war in Ukraine are causing price increases in all sectors. From energy to paper, oil, bread and agricultural products, costs are skyrocketing and the consequences are already being felt by Madeirans.

Gasoline 95 at almost two euros and diesel at 1.85 euros per litre. The price of fuel continues to rise in Madeira. Today, they rose another 10.7 cents and 16.8 cents, respectively, and price hikes have been referred to as the “shrapnel” of Western sanctions.

At the national level, the Government announced a set of new measures to overcome the impact of the war. Among them, non-refundable support, aid targeted to the transport sector and social provision for the most vulnerable consumers. The Region has approved a tax reduction on Petroleum Products (ISP), up to the maximum reduction allowed.

Samantha Gannon

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