The Regional Government of Madeira has announced a new reduction in the Tax on Petroleum and Energy Products (ISP) aimed at mitigating the impact of rising international oil prices on fuel costs in the region.
Despite this fiscal intervention, road diesel is expected to increase by 4.1 cents per liter next week, while gasoline is projected to decrease by 2.6 cents per liter. The ISP reduction will offset 0.8 cents of the expected diesel price hike, which would have otherwise been 4.9 cents.
Fuel prices in Madeira are expected to remain lower than on the mainland. Gasoline will be 8.8 cents cheaper, and road diesel 7.5 cents cheaper. Marked-colored diesel, used in sectors like fishing, will be even cheaper in Madeira, costing 16.8 cents less.
