Update to: The True Cost of Extra and Ecopaís Gasoline Subsidies
Published: Volume 8, Issue 34

Ecuadorians will see a slight increase in the price of extra and ecopaís gasoline, while premium gasoline prices will experience a small decrease starting Sunday, January 12th. The new prices were confirmed by the National Chamber of Distributors of Petroleum Derivatives (Camddepe) on Saturday morning.

The cost of a gallon of extra and ecopaís gasoline will increase by 7 cents, bringing the price to $2.712, up from the previous rate of $2.642 that had been in effect since December 12th. This change, effective until February 11th, is part of the ongoing adjustments to fuel pricing in the country.

Meanwhile, premium gasoline will see a 3-cent decrease, reducing the price per gallon to $3.58, down from $3.61.

New Pricing System Explained

This price change is part of Ecuador’s broader fuel pricing system that has been in place since June 28th, following the issuance of the Codified Regulation of Prices of Hydrocarbon Derivatives under Executive Decree 308. The regulation introduced a new pricing framework for extra and ecopaís gasoline, beginning with a 26-cent increase. Since then, a price stabilization band has been established to limit fluctuations.

Under the new system, fuel prices can rise by no more than 5% each month and can decrease by no more than 10%. This mechanism aims to smooth out volatility and create more predictable pricing for consumers, while also considering the country’s economic conditions.

With the latest price adjustments, Camddepe’s Secretary General, Oswaldo Erazo, emphasized the importance of these measures in maintaining balance in the petroleum sector and protecting consumers from extreme price swings. While the rise in extra and ecopaís gasoline prices marks an increase for Ecuadorian motorists, the minor drop in premium gasoline provides a brief respite for those using higher-grade fuel.