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Latin American fuel price and energy sector developments

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2026-10-02 05:22 UTC → 2026-10-02 12:03 UTC · added ~~removed~~

Latin American nations ~~are experiencing~~ continue to implement various ~~shifts in fuel pricing and~~ measures to manage energy ~~management driven by international market volatility~~ costs and ~~domestic policy.~~ mining development. In Colombia, President Abelardo De La Espriella has ordered the Ministry of Mines and Energy to reverse a planned gasoline price increase for October. The reversal follows a proposal to implement an average increase of $46 per gallon to update recognized prices for ethanol producers, a measure intended to provide relief to sugarcane producers in the earthquake-affected Valle del Cauca region. The President has called for “permanent solutions to international market fluctuations” and requested transparent communication. Guatemala has introduced Decree 22-2026, a temporary three-month tax exemption on VAT and the Petroleum Distribution Tax for regular gasoline, superior gasoline, and diesel. Signed by President Bernardo Arévalo, this measure aims to provide consumer relief through December 31, 2026. Honduras has established a technical working group comprising the transport sector, government ministries, and the private sector to analyze fuel cost fluctuations. This follows reports that government fuel subsidies have exceeded 1.3 billion lempiras, significantly higher than the original 650 million lempira budget. In Paraguay, while private firms Puma and Compasa have announced new pricing structures, the government is also pursuing a roadmap to extract uranium, titanium, lithium, and rare earth elements. Vice Minister Mauricio Bejarano announced plans for a new Mining Code and a regulatory framework to provide legal certainty for international investors. In Uruguay, fuel price adjustments for October included a 2% increase for nafta and a 7% increase for gasoil. In Peru, hydrocarbon production generated 1,646 million soles for regional development, while Petroperú continues to focus on refinery reactivation and operational recovery at its Talara and Iquitos sites. Additionally, Cerro Verde reported transferring US$9.045 billion to the state over a 20-year period.

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