Global fuel prices fluctuate with hikes in Chile and Spain and drops in Ecuador

Fuel markets are experiencing divergent trends across several regions. In Spain, gasoline prices have risen for ten consecutive weeks, with costs in provinces like Albacete increasing by over 7% in nine days. Conversely, diesel prices in Spain have decreased due to a 20-cent per liter tax reduction.

In Chile, the Empresa Nacional de Petróleo (ENAP) has announced a third consecutive increase in fuel costs. Gasoline prices are set to rise by $35 per liter, while diesel will jump by $89 per liter. This volatility is attributed to international market pressures and conflicts in the Middle East, which have pushed Brent crude above $100 per barrel.

In contrast to the hikes in Chile and Spain, Ecuador is seeing a downward trend. President Daniel Noboa announced that prices for Extra and Ecopaís gasoline, as well as Premium Diesel, will decrease by three cents per gallon starting September 12, marking the third consecutive month of reductions.