The objective is that the US$640 million that the State allocated per year to cover a part of the real cost of this fuel goes to social issues.
The plan to reduce subsidies on extra gasoline and ecopaís in Ecuador was launched at midnight this Friday. The objective is that the US$640 million that the State allocated each year to cover part of the real cost of this fuel goes to social issues and that the subsidy stops benefiting those who do not need it and irregular activities such as drug trafficking.
The price per gallon of these 85 octane gasoline now costs US$ 2,722 and starting July 12 it will be updated monthly according to the international price of oil, as has been done since 2018 with super gasoline.
But the extra and ecopaís will be governed by a price stabilization scheme that implies that each month it cannot rise more than 5% or fall less than 10%.
Therefore, it is not an elimination of the subsidy because if there is a significant increase in the international market - above the established ceiling, which is 5% of the value of the previous month - the State will assume the cost and will not pass it on. to the citizens. That precision was made by the Executive.
Nor is the cost of transportation expected to rise because hours before this new price stabilization scheme for extra gasoline and ecopaís came into effect, the Government transferred compensation to the first 24,259 registered carriers to cover the increase of almost 26 cents ( US$ 0.257) per gallon. That meant the State had a first allocation of US$957,840. It is expected that there will be 84,000 beneficiaries and the compensation will be monthly.
The compensation payment was formalized in Executive Decree 306 issued on Tuesday, June 25. And the new price stabilization scheme in Executive Decree 308 of June 26.
Based on this latest decree, the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources carried out daily and nightly controls to guarantee the normal dispatch, distribution and sale of gasoline that will have a new price and also premium diesel that has no variation. .
The agency reported that it carries out random inspections nationwide to verify the sale of fuel at a fair price, with the corresponding quantity and quality, that there is no speculation and that the correct use of hydrocarbons is made, according to authorized consumption segments.
The control was first carried out from Petroecuador's clean product and dispatch terminals to the tank trucks that supply the 1,276 service stations that serve the demand of the automotive segment.
And from this midnight the Regulatory Agency will strengthen controls.
