They approve freezing the price of fuel at $3.95, they will allocate $100 million to subsidize it

Fifteen business days will have the Ministry of Economy and Finance to carry out the procedures, budgetary and financial actions that are necessary to temporarily stabilize the price of fuel.

This was stipulated in Cabinet Resolution number 60 of May 19, 2022, in which the temporary freezing of the price of gasoline was approved, in addition to authorizing $100 million, in favor of the Land Transit and Transportation Authority, to subsidize it. .

In accordance with the Resolution, a maximum sale price of $3.95 per gallon and $1.43 per liter of 95 and 91 octane gasoline, as well as low sulfur diesel, is established for use by public passenger transport and the commercial and commercial fleet. industrial. The measure will be in force for a period of 3 months.

According to the Cabinet Council, this measure is given because the situation in international markets has caused an unusual increase in the prices of petroleum products in the markets, which has caused an increase in the cost of providing the service. of public transport and the transport of products and services.

“The national government considers it essential to adopt temporary measures aimed at minimizing the effects of the unusual increase in the prices of petroleum products for public passenger transport and the commercial and industrial fleet in order to maintain stability in oil prices. passage and the products and services in search of the socioeconomic stability of the country”, establishes the document

This Cabinet Resolution will come into force as of its publication and is based on numeral 1 of article 200 of the Political Constitution of the Republic.