The regulatory body also expects that, in the following weeks, the downward trend in prices of both fuels will continue.
The Supervisory Body for Investment in Energy and Mining (Osinergmin) reported that, as of May 31, the Price Bands for LPG for packaging (LPG-E) and B5 Diesel for vehicular use will be reduced.
According to the regulatory body, this decrease “would lead to an expected decrease in the price at the final consumer level that could reach 2.8% and 5%” for LPG-E and B5 Diesel for vehicular use, respectively.
“This reduction implies an estimated saving of S/ 1.50 per 10 kg LPG cylinder and S/ 0.90 per gallon of B5 Diesel for vehicular use,” Osinergmin said in a statement.
It is important to emphasize that this is an estimate and not a price regulation, since according to the hydrocarbon law, fuel prices are governed by supply and demand. That is, the intermediary or tapper, finally, sets the price that he considers appropriate.
The reductions in the Price Band are the result of the fall in fuel prices in the international market, influenced by a greater supply after the end of maintenance periods in various refineries around the world, as well as the end of the high winter seasonal demand in the northern hemisphere.
Likewise, Osinergmin expects that in the following weeks the downward trend in LPG and Diesel prices in the international market will continue.
If this occurs, it will impact a decrease in the reference import prices of LPG and Diesel, as well as the Price Band of LPG-E and Diesel B5 for Vehicular Use in the next month and consequently a continuity in the reduction of prices at the retail level, for the benefit of the population.
Written and digital press journalist, graduated from the Federico Villarreal National University (UNFV). Currently, in La República, where he writes about economics, with emphasis on hydrocarbons, mining and social conflict.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
