Gas balloon will continue in the Price Stabilization Fund until October 26

The Ministry of Energy and Mines (Minem), through Supreme Decree No. 015-2023-EM, established the permanence of the GBottled LP (GLE-E) on the list of products subject to the Fuel Price Stabilization Fund (FEPC) until October 26 of this year.

Initially, the temporary inclusion of LPG-E in the FEPC was established until August 31, 2023 (Supreme Decree No. 023-2021-EM). However, given the circumstances, the measure was extended to mitigate the volatility in the prices of LPG-E, which plays a fundamental role in the market for domestic use.

Thus, it was arranged in response to national and international challenges that have affected the costs of LPG, according to Minem. In detail, it has been observed an increase in the restrictions on the regular maritime transit of imports through the Panama Canal, which has impacted the prices of products such as LPG.

Added to this is the uncertainty about the stability of LPG prices, which has been influenced by global climatic factors such as the El Niño Phenomenon.

According to the Organic Hydrocarbons Law, fuel prices are freely determined by supply and demand. However, Minem has been working to establish information mechanisms that promote transparency in pricing, which benefits final consumers by making informed decisions, especially with regard to the domestic use of LPG for cooking food. .

It should be noted that the FEPC was created in 2004 as an intangible fund, designed to prevent the high volatility of the prices of crude oil and its refined products from being passed on to consumers. That is to say, The aim was to mitigate the abrupt rises in the increase in these prices that are generally caused by external effects such as the international price of the barrel and other factors.