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Current Petrol Prices Add Fuel to the Fire

After two weeks of fuel price hikes, most Madeirans expected to see the price of fuel go down next week, as happened on the mainland, but the Regional Secretary for Finance, Rogério Gouveia, said today that it is still too early to confirm this expectation, given that the price of oil is still more than 100 dollars a barrel. 

While signing a deal with Banco Best, which allows civil servants several banking advantages, he said:

“It is still premature. Today is Tuesday. We were unable to determine what reference price we will have next week. What we are doing is monitoring the quotation daily. Unfortunately, what we see today is that oil is again around 120 dollars a barrel and, therefore, if it continues like this, we cannot make an reductions to the fuel prices next week.”

As you can imagine, the comments section of the original article were less than complementary!

Samantha Gannon

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