# Fuel price policy shifts across Latin America > Live situation record from CLSTR: https://clstr.news/situations/south-american-oil-field-expansions > Updated: 2026-07-25T07:36:41.000Z. Sources: 76. Developments: 16. The wave of fuel‑price reductions that began in early June 2024 continued through the summer, with Chile, Argentina, Bolivia, Ecuador and the Dominican Republic all announcing or preparing cuts as global crude prices fell and refinery capacity constraints eased. Chile’s Finance Minister Jorge Quiroz and Energy Minister Ximena Rincón signaled possible gasoline reductions of up to 100 Chilean pesos per litre, while Argentina’s President Javier Milei pledged up to a 17 % cut for gasoline and diesel, contingent on tax timing and refinery recovery. Bolivia’s former union leader pressed for broader cuts, and Ecuador’s analysts expected modest declines after OPEC+ announced a production increase. The Dominican Republic kept its anti‑crisis price freeze in late June. In a reversal of this trend, Chile faced a sharp oil‑price surge in late July 2026 as Brent breached US$100 per barrel amid Middle‑East conflict and refinery damage. Finance Minister Quiroz said the Treasury was reviewing the Fuel Price Stabilisation Mechanism (MEPCO) to introduce a variable negative component that could offset part of the gasoline price rise, which could push retail prices above 100 pesos per litre. Economists projected increases of 30‑50 pesos, with the fiscal cost of any subsidy potentially exceeding US$100 million per week. The debate centered on whether public funds should subsidise fuel amid reconstruction efforts after recent storms, with critics noting that subsidies tend to benefit higher‑income households. The evolving picture shows Latin American governments alternating between price cuts when global oil prices fall and considering subsidies when prices surge, highlighting the region’s sensitivity to international energy markets and domestic fiscal pressures. ## Timeline ### 2026-07-25: Chile weighs fuel price intervention as oil hits $100 per barrel Chile's finance ministry is assessing a fuel‑price stabilization plan as oil tops $100 a barrel, anticipating gasoline costs above $100 per litre and potential weekly subsidies over $100 million. 3 sources. https://clstr.news/cluster/chile-weighs-fuel-price-intervention-as-oil-hits-100-per-barrel ### 2026-07-08: Copec launches nationwide $100‑per‑litre fuel discount in Chile Copec offers a $100‑per‑litre gasoline discount nationwide on July 8, automatically applied and combinable with other promotions, helping Chilean drivers amid price volatility. 2 sources. https://clstr.news/cluster/copec-launches-nationwide-100perlitre-fuel-discount-in-chile ### 2026-07-05: Chile and Ecuador anticipate fuel price cuts amid global oil market shifts Chile may cut gasoline prices up to 100 pesos per litre, while Ecuador expects a modest fuel price decline after OPEC+ production hikes. 4 sources. https://clstr.news/cluster/chile-and-ecuador-anticipate-fuel-price-cuts-amid-global-oil-market-shifts ### 2026-07-03: Chile and Argentina Move to Cut Fuel Prices as Oil Prices Fall Chile keeps its MEPCO fuel‑price schedule and expects a $100‑per‑litre drop; Argentina plans a 17% fuel‑price cut to curb inflation; Bolivia’s ex‑union chief urges a decree for cheaper fuel amid falling oil. 6 sources. https://clstr.news/cluster/chile-finance-minister-refuses-early-fuelprice-cut-request ### 2026-07-02: Dominican Republic Leads Regional Pharma Market While Recording Highest Fuel Prices Dominican Republic has the region's highest gasoline prices and dominates the Central America‑Caribbean pharma market, holding 25% of sales and $1.375 billion in revenue. 2 sources. https://clstr.news/cluster/dominican-republic-leads-regional-pharma-market-while-recording-highest-fuel-prices ### 2026-06-24: Dominican Republic freezes fuel prices as Latin American neighbours adjust gasoline costs Dominican Republic freezes fuel prices for late June, while Nicaragua holds prices steady, Honduras cuts them, Uruguay restores a fuel tax discount, Guatemala offers the region’s cheapest gasoline, and Brazil's 10 sources. https://clstr.news/cluster/fuel-price-hikes-hit-drivers-in-spain-and-argentina-as-subsidies-end ### 2026-06-24: Chile expects further diesel and gasoline price cuts of over $100 per liter Chile's Finance Minister Jorge Quiroz predicts another drop of over 100 pesos per liter in diesel and gasoline prices within weeks, citing falling global oil prices and the MEPCO mechanism. 3 sources. https://clstr.news/cluster/chile-expects-further-diesel-and-gasoline-price-cuts-of-over-100-per-liter ### 2026-06-22: Philippines Implements Major Fuel Price Rollback Amid Strait of Hormuz Tensions Philippines cuts diesel, gasoline and kerosene prices for June 23‑29, returning diesel to ~P70/litre, despite Strait of Hormuz worries; emergency remains in place. 4 sources. https://clstr.news/cluster/philippines-implements-major-fuel-price-rollback-amid-strait-of-hormuz-tensions ### 2026-06-20: Latin American diesel prices fall as US‑Iran peace eases oil market Fuel prices in Chile, Mexico, Honduras and the Dominican Republic are falling after a US‑Iran peace deal eases oil markets, prompting subsidy cuts and consumer relief. 4 sources. https://clstr.news/cluster/mexico-and-dominican-republic-cut-fuel-subsidies-as-oil-prices-fall ### 2026-06-19: Philippine pump prices to fall as oil costs ease Philippine diesel may drop PHP7.5‑9.5 per litre and gasoline PHP3‑5 per litre on June 23 as global oil prices fall after the US‑Iran interim pact and a stronger peso. 2 sources. https://clstr.news/cluster/philippine-pump-prices-to-fall-as-oil-costs-ease ### 2026-06-18: Philippines to cut diesel and gasoline prices after US‑Iran peace deal lowers oil Philippine diesel and gasoline prices are set to fall sharply after the US‑Iran peace deal slashes global oil prices, with diesel down up to P9.50 / l and gasoline by P3‑P5 / l. 3 sources. https://clstr.news/cluster/philippines-to-cut-diesel-and-gasoline-prices-after-usiran-peace-deal-lowers-oil ### 2026-06-18: Latin American nations tweak fuel prices and energy subsidies in June 2026 June 2026 sees Argentina’s new LPG subsidy, price shifts in Córdoba, fuel price freezes in the Dominican Republic, cuts in Honduras, Yucatán gasoline rates, Arequipa fuel costs, and Colombia’s AutoGLP vehicle‑c 11 sources. https://clstr.news/cluster/argentina-fuel-prices-climb-while-colombia-targets-3000-lpg-vehicle-conversions-in-2026 ### 2026-06-18: U.S.–Iran pact slashes oil prices, prompting fuel price freezes in Dominican Republic and policy shifts in Chile and Ar​ U.S.–Iran agreement ends hostilities, drives Brent and WTI to ~ $78/$75, prompting Dominican fuel‑price freezes, Chile’s MEPCO push and Argentina’s fiscal boost. 23 sources. https://clstr.news/cluster/latin-american-nations-face-contrasting-fuel-price-shifts ### 2026-06-15: Chile cuts fuel prices as oil falls after US‑Iran peace talks Chile's government said gasoline could drop $90‑$100 per litre and diesel about $110, after a US‑Iran cease‑fire lowers global oil prices, with the change to take effect from Thursday. 2 sources. https://clstr.news/cluster/chile-cuts-fuel-prices-as-oil-falls-after-usiran-peace-talks ### 2026-06-15: Fuel price discounts roll out in Peru and Chile Peru sees gasoline prices drop to S/16.80 amid supply measures, while Chile's Copec offers a 100‑peso per litre discount on fuel in 32 communes on 15 June. 3 sources. https://clstr.news/cluster/fuel-price-discounts-roll-out-in-peru-and-chile ### 2026-06-02: Petroperú and Repsol cut fuel prices nationwide in Peru Petroperú and Repsol lowered gasoline, diesel and industrial fuel prices by up to S/ 1.01 per gallon nationwide, while LPG stayed the same. 3 sources. https://clstr.news/cluster/petroper-and-repsol-cut-fuel-prices-nationwide-in-peru --- Cite as: Fuel price policy shifts across Latin America. CLSTR, https://clstr.news/situations/south-american-oil-field-expansions