After analyzing the report from the Regulatory Unit for Energy and Water Services (URSEA) that proposed the increase in the price of all fuels (between 5 and 8%) as of March. The Executive Power resolved this Monday, February 28, that “the adequacy of fuels will take effect from 00:00 on Tuesday, March 1 and will be 1.47 pesos per liter for Super 95 gasoline, and 1. 05 pesos for diesel 50S. Supergas, meanwhile, also adjusts 2% up to 60.35 pesos per kilogram.
Through a statement, the Ministry of Industry stated that in a context of “strong international rise in fuels driven by the war between Russia and Ukraine, the Executive Branch decided to reduce the impact of said rise to a 2% adjustment for gasoline, diesel and supergas. The URSEA reference implied adjustments between 5% and 8%”.
The government remarks that the fuels “are updated below the URSEA recommendation.”
“With prudence”
The Executive Branch “will continue to act with prudence and evaluate the situation in the face of current market volatility,” and “ratifies its commitment to continue making costs transparent through the current price-setting mechanism, which also constitutes a ceiling for public rates are not used for collection purposes”, reported the Ministry of Industry in a press release.
