Gasoline will drop 19.2 cents and diesel 18.9 cents on Monday, the government confirms

The price of a liter of petrol will fall 19.2 cents cheaper on Monday and diesel 18.9 cents cheaper, the Ministry of Finance said on Friday.

The sharp fall in fuel prices is due to a reduction in the tax burden on fuel, which is due to the effect of the fall in the VAT rate accruing from the weekly ISP review mechanism from 23% to 13%.

“To help families and businesses cope with the effects of rising fuel prices, the government has decided to lower unit prices for Internet service providers to replicate the reduction in the VAT rate from 23 percent to 13 percent at market prices,” the ministry-led spokesman said. Author: Fernando Medina

In this way, he explains: “From Monday, the fuel tax burden will take into account this reduction in the ISP’s (and the corresponding effect in VAT), which will lead to an additional tax reduction of 14.2 cents per liter of diesel and 15.5 cents per liter of petrol.”

This tax credit reduction is valid throughout May and will be reviewed for updated June prices.

To the above values ​​are added the reductions of 4.7 cents per liter of diesel and 3.7 cents per liter of petrol.

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