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No longer weekly: petrol and diesel price changes are released every 21 days

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The Chamber of Commerce has sent to legislate a project that will allow petrol and diesel price fluctuations to be reported every three weeks. In addition, it includes special measures for freight transport, agreed between unions and enforcement in relation to the mobilization carried out by truck drivers in November 2022.

The project to enable the Fuel Price Stabilization Mechanism (Mepco) was in a position to hand over to the executive branch for promulgation as law. We deliver petrol and diesel price changes every 21 days instead of every week like today.

of House of Representatives and Deputies He endorsed the project in Phase 3 and approved all changes made by the Senate. Specifically, it was approved by 111 votes in favor, 3 against, and 26 abstentions.

Specifically, this change aims to specify the period of application of the percentage adjustment to the diesel price calculation. They are therefore said to be valid from 16 April 2023 to 15 April 2024.

The figures applicable to calculations from the date of promulgation of the law to 15 April 2023 will also increase.

petrol and diesel prices

Project rules seek to define price stability over a wider period during the ups and downs you can experience.

This helps emphasize the “insurance” profile of the mechanism. This makes it possible to maintain value programming for a longer period of time. This not only benefits transport in general, but also products associated with this situation, such as those sold in businesses and supermarkets.

To substantiate MEPCO’s changes, the proposal also specifies how certain fuel taxes will be calculated for different weeks of the period.

freight forwarding

moreover, The text shows some tangible benefits for the freight forwarding sector These were agreed between the administration and unions in connection with the truck drivers’ strike at the end of November.

In particular, the period of validity of the partial refund of certain taxes on diesel for companies in this sector will be extended until 31 December 2023.

For this, the following scales apply:

-80% for taxpayers with an annual income of 2,400 UF or less.

-70% for taxpayers with an annual income above UF2,400 and not above UF6,000.

-52 5% for taxpayers with an annual income over UF6,000 and not over UF20,000.

-31% for taxpayers with an annual income greater than UF20,000.

In addition to the above, we will establish a diesel pricing regime that will apply until April 15, 2023. Likewise, this norm establishes the mechanisms that enable the aforementioned stabilization.

An applicable temporary regime will then be established for diesel oil price adjustments resulting from Mepco’s operations. As mentioned above, the period he is from April 16, 2023 to April 15, 2024. A maximum increase of 0.25 UTM per cubic meter is defined here every 21 days.

Finally, it details that the partial refund benefit extension will apply to all invoices issued during the 2023 tax year.

Specific fuel tax

Marta Bravo (UDI), Johannes Kaiser (PREP), Miguel Melard (RN) Ricardo Cifuentes (DC), Miguel Angel Callisto (DC), Gonzalo de la Carrera (IND); Daniel Lilayu ( UDI), Jorge Rathgeb (RN), Jaime Naranjo (PS); Mauricio Ojeda (IND), Flor Weisse (UDI), Juan Irarrázaval (PREP); Alejandro Bernares (PL), Luis Sanchez (PREP), Marcela Riquelme (IND); Fernando Volquez (UDI) and Marta Gonzalez (IND).

For the most part, legislators have raised their approval for this project. Nevertheless, They also called on the government to start discussions on maintaining a specific tax on fuel.

In particular, Deputy Commissioner Mauricio Ojeda (IND) recalled that this tax arose due to the specific reconstruction situation after the 1985 earthquake. Therefore, its permanence is not justified.

During the discussion, it was raised that higher fuel prices will affect the poorest, who are not benefiting from mechanisms such as MEPCO.

Some, when criticizing the article, questioned that these benefits did not extend to other sectors, such as passenger transport, stemming from the pressure exerted by truck unions after their strike last November. Likewise, given the current declining dollar and fuel prices, in the temporary nature of its application.

Source: Biobiochile

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