Guatemalan gasoline and diesel consumers will see new prices reflected in the dispensing pumps at service stations, with a reduction of Q5 and Q8, as approved by the Congress of the Republic on the night of Tuesday, April 14, by law.
The process will take approximately 10 to 15 days, while legislative procedures are concludedthe regulation and publication by the authorities involved, so that the “Emergency Support Law for Diesel and Gasoline Consumers” comes into effect.
Fuels will drop in the coming days
The reference prices in the self-service mode are Q37.99 for regular gasoline and, with the application of the Q5 subsidy, it will remain at Q32.99. For premium gasoline, Q38.99, with the implementation of the law, it would remain at Q33.99.
The gallon of diesel, which is listed this Wednesday, April 15 at Q41.69, with the subsidy of Q8, it would remain at Q33.69.
These values are reference for the metropolitan area and in self-service mode.
The difference with the full service is Q1 in the metropolitan area and varies in relation to the stations in the interior of the country.
If the price of refined products rises or falls, while the law lasts, the subsidy must reflect that variation.
Fuel subsidy will be valid for 90 days
In accordance with the “Emergency Support Law for Diesel and Gasoline Consumers”, The measure will be valid for three months, equivalent to 90 days, from the publication of the decree regulations.
The decree indicates that the transfer of the benefit will be applied in the distribution and marketing chain to importers of diesel and superior and regular gasoline that are registered in the General Directorate of Hydrocarbons (DGH) of the Ministry of Energy and Mines (MEM).
Importers must reflect the decrease in the amount corresponding to temporary social support in the final sale pricel (port warehouses), also known as ex rack.
The measure will be valid for three months, equivalent to 90 days, from the publication of the decree regulations.
The Superintendence of Tax Administration (SAT) and the MEM must establish the mechanisms and periodicity in the regulations of the law to determine the amount discounted per individual or legal importing person, as temporary social support.
In all invoices issued in the marketing chain, must record the annotation of the temporary social support established by law.
Importers will receive subsidies after state control
The approved law indicates that the Ministry of Energy and Mines (MEM), in the procedures it will carry out, will recognize the amount corresponding to temporary social support to fuel importers registered in the General Directorate of Hydrocarbons (DGH), after verification of the information reported by the Superintendency of Tax Administration (SAT) and the documentation that supports the reduction applied to the price of fuel in the marketing chain.
Congress approves Q2 billion for subsidy
Regarding the financing of temporary social support, Congress approved an amount of Q2 billion, which will be covered through a budget readjustment to be carried out by the Ministry of Finance.
The decree indicates that the maximum amount to carry out the readjustment will be up to Q1,192 million.
The Ministry of Energy and Mines (MEM) will be in charge of budget execution, that is, the application of the subsidy will be charged to its budget.