MP Pedro Coelho stated that fuel prices in Madeira would be significantly higher if it weren't for the joint action of the Regional Government and the Government of the Republic in reducing the revenue from the Tax on Petroleum Products (ISP).
Coelho explained that the increase in fuel prices is due to the international context, including conflicts in the Middle East and Ukraine, and not due to gains by the National or Regional Government. He assured that, instead of profiting, both governments are lowering the ISP discount to mitigate the impact.
According to the MP, on average, fuel in Madeira is about 11 cents per liter cheaper. The ISP rate for diesel in Madeira was 33 cents per liter on September 18, compared to 44 cents on the mainland. Without the ISP reduction, fuel in Madeira would be, on average, 24 to 25 cents more expensive per liter.
