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What about the fuel prices in the Azores

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Fuel Prices on The Azores

In less than a month the price of fuel has dropped twice on the mainland and in Madeira, however in the Azores the price remains the same.

As of 21st December, the price of diesel and gasoline dropped further in all gasoline stations.

According to the the Economic Journal, the price of diesel drops more than gasoline, and the time of the short Christmas break for most Portuguese.

Prices will be noted in both brand pumps, as in white label calls.

Thus, the decline in gasoline is about half a cent per liter and diesel will be three cents per liter.

The decline of around 40% of the price of a barrel of ‘Brent’ – of about $ 60 to $ 37 last Monday (14) -. meant a reduced savings for consumers, which only occurs in gasoline to opt for the simpler option, ie no additives.

The Portuguese Association of Oil Companies (APETRO) explains that the reduced oil price impact on the final cost of fuel from the fact that the price only represent 30% of the diesel price structure, which drops to 24% for petrol.

As recently as the Secretary-General APETRO, Anthony Long he said at a conference as it makes up the price structure in response to critics who say oil companies are slow to reflect the final prices the decline in raw materials in international markets.

In the case of diesel, only 30% results in the price of ‘ Brent ‘, with the remaining 70% tax (53%), storage, distribution and marketing (13%) and biofuel incorporation (3%).

But the price of gasoline is the result of taxes (64%), storage, distribution and marketing (11%) and biofuels (1%), while the price of oil worth only 24%.

Prices began to fall sharply last week due to lack of agreement of members of the Petroleum Exporting Countries Organization (OPEC) to set a limit on production.

Falling prices worsened after the International Energy Agency (IEA) have stated on Friday in the monthly report is not provided for a reduction in short-term supply and demand growth is likely to slow in 2016.

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