The Ministry of Energy and Mines (Minem)
on Monday reported that the Executive Branch has adopted technical measures to mitigate the rise in fuel prices.
Thus, the Government has extended the inclusion of 84 and 90 octane gasoline, 84 octane gasohol, and bulk LPG in the Fuel Price Stabilization Fund (FEPC) until September 30 this year.
Given the recent increase in international prices of oil and its derivatives, which affect local users, the Government of Peru released Supreme Decree No. 007-2022-EM.
Said rule extends the inclusion of widely used fuels in the FEPC and approves the measures for Diesel BX intended for vehicular use (transport of goods and people).
The decree states that high volatility in international prices of oil and its derivatives still persists in the current context, stressing the need to adopt measures that mitigate the effects of said volatility in the prices of certain fuels sold in the Peruvian market, for the benefit of consumers.
According to the rule, published in the Official Gazette El Peruano, the inclusion of 84 and 90 octane gasoline, 84 octane gasohol, and bulk LPG in the Fuel Price Stabilization Fund (FEPC) is extended until September 30, 2022.
In the case of Diesel BX, the validity of price bands was extended until June 30, 2022, so the increase planned for July and August of approximately S/1 (about US$3.872) per gallon will not apply.
Likewise, it provides that, starting July 1, the price band cap will be S/12.01 (around US$3.10) per gallon; that is, it has dropped by S/1.49 (about US$0.50) per gallon.