ISP fuel tax boosts State coffers by 2.6 million a day

With the government’s unpopular ISP tax on fuel products in effect since February 12, data for March – the first full month with ISP in effect – shows that the State benefitted to the tune of 2.6 million euros per day. Apetro, the Portuguese association of fuel businesses, says petrol in Portugal is now 22 cents more expensive than in neighbouring Spain, while diesel is 12 cents dearer.

The only ‘ray of light’ on the horizon is that next week – on May 12, three months after the latest ISP rates came into effect – the government is due to revise it.

PS leaders have said they would revise downwards (by one cent) for every 4.5 cent increase in the price of fuel on international markets.

Further revisions are due to come in August and November.

Meantime, according to news reports, fuel entity ENMC has concluded that since the increase in ISP in February, the price of fuel has increased by eight cents.

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