Following a rise of 21.7 cents per litre for gasoline and 36.3 cents for diesel in May, the Regional Government of the Azores increased the reduction on the Tax on Petroleum Products (ISP), resulting in a drop of seven cents per litre for gasoline and 14.7 cents for road diesel in June.

Prices in the Azores are falling again in July, with the greatest impact on diesel.

As of July 1st, the price of 95-octane unleaded gasoline is set at 1.832 euros per litre in the archipelago, 1.9 cents less than the price charged in June.

Road diesel, which is once again cheaper than gasoline, drops by 10.4 cents to 1.753 euros per litre.

The price of colored diesel for agriculture and fisheries, defined in a separate order, is also dropping by 10.4 cents per litre in July.

Colored and marked diesel for agricultural use will now cost 1.453 euros per litre, while colored and marked diesel for fishing will cost 1.263 euros per litre.

Butane gas, which had seen a 36.9-cent-per-kilogram price increase in May, is also seeing a price drop.

After dropping 26.5 cents per kilogram in June, the price of butane gas in the Azores is falling by 17.3 cents in July.

Butane gas sold to the public at retailer premises in cylinders of 26 litres or larger will now cost 1.770 euros per kilogram, while gas sold in 24-litre cylinders made of lightweight materials (with a container weight of up to eight kilograms) will cost 1.970 euros per kilogram.

Piped butane gas costs 1.770 euros per kilogram, and bulk butane gas costs 1.363 euros per kilogram.

Maximum prices for petroleum and energy products in the Azores are "adjusted on the 1st of each month by amounts equivalent to the variation in the monthly European Price (PE)."

Between February and May, the price of gasoline in the Azores rose by 32.3 cents per litre, diesel by 53 cents per litre, and butane gas by 52.2 cents per kilogram.

During April and May, the Regional Government of the Azores lowered the ISP (fuel tax) by 3.5 cents per litre for gasoline and four cents per litre for diesel to mitigate the sharp rise in oil prices.

In June, the Azorean executive decided to increase the ISP discount; however, the Left Bloc (Azores) accused the Regional Government of failing to implement the reduction, 10 cents per litre for gasoline and 15 cents per litre for diesel, mandated by a resolution passed by the Azorean parliament in May.

“If the government had complied with the resolution approved by parliament, the price of gasoline would have dropped by 10 cents per litre (instead of seven cents) and diesel by 24.7 cents per litre (instead of just 14.7 cents),” the party stated.

The rise in fuel prices is occurring against a backdrop of heightened geopolitical tension in the Middle East and following the United States' attack on Iran, with oil prices under pressure due to the potential closure of the Strait of Hormuz and volatility in international markets.