The Ministry of Energy and Mines (Minem) ordered that liquefied petroleum gas intended for packaging (LPG-E) remain in the Fuel Price Stabilization Fund (FEPC) until March 24, 2024.
In this way, supreme decree 033-2023-EM establishes an extension of three more months that will prevent the volatility of this fuel used for cooking, heating hot springs, among others.
The decision came against time, because it was published on the same day that the deadline for including GLP-E in the fund expired (this December 28), through the extraordinary regulations.
LPG-E remains on the list of products subject to the FEPC since September 2021, with successive quarterly extensions, with a different reason each time. It is the same fuel purchased by cars on taps (LPG-G), only destined for another use. For some specialists, this creates a distortion.
According to Minem, the decision is due to the fact that “the measures established by the authorities of the Panama Canal to face the severe drought, have been generating high congestion in the transit of ships through this route, which has an effect on the prices of goods. traveled”. However, before the problems in the Central American country there was already a request from the sector to carry out the extension.
“At a global level, the El Niño Phenomenon, the restrictions on the interoceanic waterway of the Panama Canal and the increase in fuel prices that followed the trend in the price of crude oil, mainly due to the market’s positive expectations regarding the agreement of OPEC and Russia to extend their production cuts, generate uncertainty in the volatility of LPG prices in the coming months,” the decree states.
Additionally, Minem maintains that “the implementation of various measures is continuing within the framework of the Energy Social Inclusion Fund (FISE) under the FISE Discount Voucher program”, which aim, among others, to expand, in a focused manner , the number of beneficiaries of said program for the population in vulnerable situations.
Source: Larepublica
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