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Industry revenue of “retail sale of automotive fuel in specialised stores“ in Portugal 2011-2023

Revenues from the retail sale of automotive fuel in specialised stores in Portugal are projected to decline from 7.6 billion U.S. dollars in 2017 to 6 billion U.S. dollars in 2023, owing to the rising prices of diesel and gasoline as well as the growing popularity of electric vehicles and hybrid cars. In fact, according to the European Automobile Manufacturers’ Association, Portugal was the fourth largest market in terms of electric vehicle sales as compared to overall auto sales in 2018. Moreover, the government has announced its intention of having one third zero emission vehicles in the country by 2030, which is set to further hamper industry revenues in the medium to long term.

High taxation rates on fuel

According to algarvedailynews.com, Portugal was ranked tenth in the world and eight in Europe in terms of highest average fuel prices in 2018, with the average cost being 1.58 euros per litre. One of the main reasons for the high prices are the high fuel-taxation rates. In 2018, the country had one of the highest tax shares in gasoline prices in the EU at 60 percent.

Industry revenue of “retail sale of automotive fuel in specialised stores“ in Portugal from 2011 to 2023

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Source

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Portugal. The industry “retail sale of automotive fuel in specialised stores“ has the code “G473“.

Details on the methodology can be found here.

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