Chile and Argentina Move to Cut Fuel Prices as Oil Prices Fall
In Chile, former finance minister Mario Marcel warned that the March‑2024 fuel‑price adjustment under President José Antonio Kast aggravated the country's economic slowdown, while Finance Minister Jorge Quiroz insisted the government will keep the MEPCO schedule unchanged and expects gasoline prices to fall by about $100 per litre next week, contingent on global crude and refining capacity.
In Argentina, President Javier Milei’s administration announced a plan to reduce gasoline and premium diesel prices by up to 17% in early September, aiming to help bring inflation close to zero. The drop would follow the recent decline in Brent crude prices and depends on the timing of tax adjustments and the recovery of international refining.
Former Bolivian union leader Alejandro Avendaño Gallardo called on the government to issue a decree cutting fuel prices, arguing that the sustained fall in international oil prices justifies an immediate reduction beyond the modest recent cuts.