Earlier this week a drop in prices had been expected, which ended up being stopped due to the reduction of the Tax on Petroleum Products (ISP) discount.

The Ministry of Finance announced, at the end of last week, that in December there is a reduction in the ISP discount by 3.9 cents per litre of diesel and 2.4 cents per litre of gasoline, taking into account the fall in prices.

In a statement, the government stated that, "the mechanism applicable in the ISP equivalent to a decrease in the VAT rate from 23% to 13% and the compensation mechanism via the ISP reduction of the additional VAT revenue, resulting from variations in fuel prices, remain in force".

Thus, taking into account the evolution in the price of diesel and petrol, "these temporary measures result in a reduction of the ISP discount by 3.9 cents per litre of diesel and 2.4 cents per litre of petrol, a discount of 17.1 cents per litre on diesel ISP and 15.4 cents per litre on gasoline ISP", reads the same note.