Corruption in the oil industry in Portugal continues as yet again BP,Galp and Repsol increased the final consumer price of oil by three cents per litre ( 95 oct.1,429€), consumers should be paying less 12% !!! even as oil prices closed at their lowest level in two weeks Thursday, tumbling below $94 a barrel on doubts that a revamped financial bailout plan will be enough to avoid a protracted economic slump and revive dwindling Europe and U.S. energy demand. Oil prices have fallen in the past month with concerns about waning global energy consumption.
Portugal continues to have one of the most expensive final consumer prices of any oil product (diesel /regular) in the world ...This situation places the economy in the RED, as consumers pay more and more for energy....while in the international market prices are falling...
There is no justification for the inflated gasoline prices sold by Galp, BP and REPSOL and in particular by BP.!!!
Oil in New York has fallen +/-35 percent from a record $147.27 a barrel on July 11 as high prices and slowing global economic growth reduce demand for fuels ... however Portugal this very moment has the most expensive final consumer price for gasoline in Europe and one of the highest in the world... BP filling stations are the most expensive ...
Oil prices have fallen about $15, or 13 percent, in the past month as investor concerns about waning global energy consumption outweigh threats to supplies caused by Gulf Coast hurricanes and militant attacks in Nigeria.
The slump in energy demand has accelerated beyond the U.S. In India, domestic oil product sales totaled 2.41 million barrels per day in August, the lowest level this year, according to Barclays Capital research. In the same month, Japan's oil demand fell by 8.4 percent.
Significant gains over the past days by the dollar against the euro have also helped push down prices. Investors tend to buy commodities like oil to defend against dollar weakness and a hedge against inflation, but return to the U.S. currency as it strengthens.
Oil consumption in Portugal this year has dropped more than 11% and all tendencies indicate that it will continue and pass the 14% !!!
This arrogant attitude by the oil companies and government will not be forgotten as Portugal will shortly enter a period of elections for a new government, the population will certainly have the opportunity to elect a new government that will work for the people and not for the oil industry...
