Chile expects further diesel and gasoline price cuts of over $100 per liter

Finance Minister Jorge Quiroz said that the recent decline in international oil prices is already lowering fuel costs in Chile. He warned that, under the country's Fuel Price Stabilization Mechanism (MEPCO), another adjustment could be made within the next two weeks, reducing diesel and gasoline prices by more than 100 Chilean pesos per liter. The minister noted that price changes are applied only every three weeks according to the law, but if current market conditions persist, consumers should see a significant short‑term decrease. Quiroz described the expected drop as “very good news” for Chileans and indicated that the government is monitoring the situation closely while continuing discussions on broader fiscal reforms.

The announcement comes as the government seeks to balance lower global oil prices with domestic policy rules, and it may influence household spending and inflation trends.