The law extending the temporary fuel tax (ISP) discount has been officially published and is now in effect, retroactive to 30 June. It remains in place until 31 December 2026, offsetting additional VAT revenue collected by the state when fuel prices exceed a specific threshold set during the March 2026 price surge.
This update is from Bica
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Read today’s briefingNine months after Storm Kristin, many affected residents remain without proper roof repairs because the state support grant of up to 10,000 euros has proven insufficient to cover construction costs. With winter approaching, these households are still living in damaged properties covered in plastic sheeting.
The European Commission, led by Energy Commissioner Dan Jørgensen, has initiated a dialogue with the refining sector to halt closures and increase production capacity within the EU. The objective is to stabilize fuel supplies and lower prices, as the International Energy Agency warns of continued high prices through 2027. While targeting short-term supply increases, the commission is also developing a roadmap for the long-term transition of refineries toward biofuels and synthetic renewable fuels.
Banking unions cancelled the national strike scheduled for 30 November after reaching an agreement with the Portuguese Banking Association and Caixas de Crédito Agrícola Mútuo for a 3% pay rise across salary tables and pensions for 2026. The increase, alongside retroactive pay dating back to 1 January 2026, will be reflected in November paychecks, though the strike remains in effect for BCP and Banco Montepio pending further talks.