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Gasoline prices increase in Ecuador

Quito, Aug 12 (Prensa Latina) Gasoline prices in Ecuador have registered from today an increase that will be maintained until September 11, according to the National Chamber of Oil Derivative Distributors (Camddepe).

Extra and Ecopaís gasoline, low octane, will cost US$ 2.751 per gallon, which implies an increase of US$ 0.12 with respect to the price of the last 30 days.

Meanwhile, Super gasoline, 95 octane and without subsidy, will cost US$3.57 per gallon, an increase of US$0.09 compared to the previous month.

Since July 2024, Ecuador has applied a system of bands that involves monthly adjustments based on the international behavior of oil, with a maximum increase of five percent and a maximum reduction of 10 percent.

The new increase coincides with an executive decree signed by President Daniel Noboa that reforms the Codified Regulation for the Regulation of Hydrocarbon Derivative Prices.

This measure does not modify the monthly adjustments, but implies a change in the price formula calculations, which incorporates new variables.

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