Put gasoline on it! The problems that the rise in fuel prices has left in America – El Financiero

In recent weeks, the rise in gasoline prices has caused various conflicts in various parts of the continent, as various sectors have protested considering that the increases are unaffordable in the current economic situation.

It is the case of Mexico, United States, Ecuador or Peru, the latter is the nation on the continent with the highest fuel price. This generates an increase in various basic products, within the framework of uncontrollable inflation that is recorded in almost the entire world.

The subsidy policy in Mexico

This year, the subsidy that the government of Andrés Manuel López Obrador applies to gasoline will cost 400 billion pesos, as Enrique Quintana pointed out in recent days, in his column Coordinates.

This millionaire figure is the result of the forgiveness of the IEPS to motorists every time they fill their tank at a gas station in the country, to the transfers that have been made for this activity and also the VAT not generated.

In Mexico, low octane gasoline, the one we know as Magna or regular, increased in the last 12 months by 6.81 percent. In contrast, in the United States the average increase in gasoline in the last year was 48.7 percent.

About, President Andres Manuel Lopez Obrador He assured that the fuel subsidy is guaranteed for the rest of 2022, so the price of gasoline and diesel will not increase this year.

However, the price of fuel has already caused a strike by carriers in Mexico City, who demanded an increase of five pesos to maintain the supply of gasoline to their units, which was denied and only remained at one peso.

Gallon through the roof in the US

The average price of regular gasoline in the United States fell 4 cents a gallon in the last two weeks, to sell for $5.05 a gallon ($1.33 a liter), it was reported last Sunday.

It was the first decline in nine weeks and came with falling oil prices amid growing fears of inflation around the world, industry analyst Trilby Lundberg said.

“As lower gasoline prices make their way from distribution to retail, consumers are likely to see further declines in the coming days,” Lundberg said.

Until Friday June 24, the average price per gallon at gas stations was still $1.90 higher than a year ago.

Indigenous protests in Ecuador

The Confederation of Indigenous Nationalities announced this Monday that it agrees to dialogue with the government to promote solutions to the demands that generated a strike and violent protests in the last two weeks in Ecuador.

Shortly before, the indigenous people rejected the announcement by President Guillermo Lasso to reduce the prices of gasoline and diesel by 10 cents on the dollar and they described the measure as insensitive and insufficient, while the national strike called by that sector extended in the midst of the demonstrations.

The announcement “is not compatible with the situation of poverty faced by millions of families,” the organization said in a previous statement. He assured that despite the “repressive response of the State… we have stood firm and continue to demonstrate to Ecuador and the world the legitimacy of our struggle.”

The indigenous strike, which has mainly affected the north central Andean provinces with iron blockades of the main highways, especially the Pan-American, has caused shortages of food, gasoline and gas for domestic use and the impossibility of moving around the country.

Transporters confront the government in Peru

Heavy cargo carriers began an indefinite strike in Peru on Monday against the rise in fuel prices, while the government of President Pedro Castillo sent thousands of police officers to guard the country’s key roads to avoid blockades.

Luis Marcos, leader of the truckers, told the local RPP radio that most of their demands are related to the rise in fuel prices. “The substance of the lawsuits lies in the impossibility of transferring the frequent increase in diesel to our customers,” he said.

Castillo’s management stopped another strike by the interprovincial passenger transport union after announcing compensation for two months of 1.3 dollars per gallon for that sector and it will also subsidize 40% of the toll for four months for companies that have up to 50 units.

Fuel prices have risen in Peru, an oil importer, fueled by global inflation and Russia’s war in Ukraine. A gallon of 95-octane diesel, one of the most used in Peru, has risen 2.7 dollars in six months, according to official figures.

With AP information

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