Chile completes 47 weeks of fuel price hikes

 Fuel prices in Chile completed 47 weeks of consecutive increases, reported today the newspaper La Tercera.

Fuel prices will continue to rise as of Thursday, said Finance Minister Mario Marcel, quoted by the newspaper.

Gasoline prices increased by four percent in June, to accumulate an annual appreciation of 16.7 percent and 30.3 percent in 12 months, despite the measures of the Price Stabilization Mechanism, the source added.

According to the National Statistics Institute, diesel rose 4.1 percent that month and added up to 23.2 percent this year and 51.1 percent over the last 12 months.

The National Petroleum Company predicted that the price of a liter of 93-octane gasoline will rise by 12.9 pesos (0.01 dollars).

For her part, economist Michèle Labbé recalled that consumers have not paid any specific tax for some time, “so that, if we resort to its elimination, as some deputies are calling for, prices will rise instead of falling”.

Prensa Latina

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