Chile and Ecuador anticipate fuel price cuts amid global oil market shifts

Chile's Energy Minister Ximena Rincón said the government could reduce gasoline prices by up to 100 Chilean pesos per litre this week if international market conditions remain favourable. The cut would be reflected in the next weekly report from the state oil company ENAP, marking one of the largest fuel price decreases in recent months.

In Ecuador, analysts expect a modest decline in gasoline and diesel prices after OPEC+ announced a fifth consecutive increase in global oil production. The next price band adjustment on July 11 could translate into a modest reduction for consumers, though the government may absorb part of the change to protect fiscal revenue.

Both countries are closely monitoring international crude price trends as they adjust domestic fuel pricing mechanisms.