[REVISION HISTORY]

Fuel price volatility and regional responses in Latin Am

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2026-10-12 23:59 UTC → 2026-10-13 03:48 UTC · added ~~removed~~

Since mid‑July 2026, fuel prices across Central and South America have risen sharply in line with global oil market dynamics. In Chile, following a three‑week price hike in late July, new adjustments were confirmed by the state‑owned Empresa Nacional del Petróleo (ENAP). By mid-August, ENAP had reported price stability for several fuels, but by early September, the Chilean government confirmed upcoming increases in gasoline and diesel prices ahead of the national Fiestas Patrias celebrations. Biminister of Economy and Mining Daniel Mas attributed these hikes to international petroleum pressures stemming from Middle East conflicts. While official magnitudes were not released, the Observatory of the Economic Context at Universidad Diego Portales estimated gasoline could rise by approximately $35 per liter, with diesel potentially increasing by nearly $100 per liter. Regional responses continue to evolve. In Argentina, consumers can access up to 30% discounts through bank promotions, and the government has established a reimbursement program for 10-kilogram gas cylinders via the Registro de Subsidios Energéticos Focalizados (ReSEF). In Panama, the National Assembly approved a B/. 26.3 million fund to stabilize fuel prices for public transport, cargo, and artisanal fishing. In Costa Rica, the Public Services Regulatory Authority (ARESEP) approved increases for gasoline and diesel. In Guatemala, temporary tax exemptions approved via Decree 22-2026 took effect on October 1, 2026. In Honduras, the government implemented a 30-day measure on October 5 to absorb L12.01 per gallon of diesel by covering the Aporte para la Conservación del Patrimonio Vial (ACPV) tax, though gasoline and kerosene prices remain scheduled for increases. In ~~Ecuador, as of October 12, 2026,~~ the ~~government implemented~~ Dominican Republic, regulated hydrocarbons have seen a ~~reduction~~ cumulative increase of ~~four cents per gallon for Extra gasoline, Ecopaís gasoline, and Premium diesel.~~ RD$231 over five months.

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