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Economy · Funchal · 30 July 2026

PPM Madeira Concerned Over Record Oil Company Profits Amidst Rising Fuel Prices

PPM Madeira expresses concern over rising fuel prices, highlighting significant profits made by oil companies since 2022.

PPM Madeira has voiced its concern regarding the widespread increase in fuel prices, pointing to record profits achieved by Portuguese oil companies since 2022.

The party stated that the largest Portuguese oil firm reported profits exceeding 800 million euros in the first half of 2026. PPM Madeira criticizes the government's lack of foresight in not regulating fuel prices, leading to lost tax revenue and estimated fuel smuggling.

Paulo Brito, PPM-Madeira coordinator, accused the government of safeguarding the profits of large multinational corporations while workers bear the financial burden. The party questioned when the state will cease to "rob" citizens and alleviate the cost of living.

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