London, November 18, 2014: Portuguese fuel markets authority ENMC (Entidade Nacional para o Mercado dos Combustíveis) has launched a series of national reference prices for gasoline, diesel, and LPG based on Argus assessments.
In order to encourage transparency in the pricing of these fuels, ENMC is publishing daily, weekly and monthly prices derived from Argus’ fuels and freight assessments, with adjustments for local costs and conditions.
The prices were launched on 14 November and can be seen on the body’s website www.enmc.pt. They are intended as a reference for Portuguese consumers and government, and to encourage the formation of final retail prices that are responsive to changes in international markets. They reflect the post-tax price of fuels sold from storage in Lisbon and do not include distribution costs or retail margins.
“We are very pleased with the service from Argus, which will help us build a system to bring more transparency to the Portuguese market for gasoline, diesel and LPG,” ENMC president Paulo Carmona said.
“We are delighted that ENMC has chosen to base its reference prices on Argus, in recognition of our clear methodology and benchmark status in European wholesale markets,” Argus Media chairman and chief executive Adrian Binks said.
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Data Sources: Argus | Effective Date: November 18, 2014