Chile cuts fuel prices as oil falls after US‑Iran peace talks

Chile's government announced that gasoline prices could fall by roughly $90‑$100 per litre and diesel by around $110, following a decline in international oil prices after a cease‑fire agreement between the United States and Iran. Finance Minister Jorge Quiroz said the reduction will be detailed in a decree that takes effect on Thursday, mirroring the recent drop in U.S. WTI and European Brent benchmarks.

The adjustment follows a sharp price increase earlier this year, when gasoline and diesel rose by more than $390 and $580 per litre respectively. Officials noted that the earlier hikes were tied to the war‑driven rise in oil costs, and the current decline allows the government to pass those savings onto consumers.