In July, fuel prices could return to their normal values, as the resources allocated to cover the temporary support of Q8 per gallon of diesel and Q5 per gallon of premium and regular gasoline would end.
The deputies who are members of the Finance Commission held a meeting with authorities from the Ministries of Energy and Mines and Finance, in which it was announced that, if the current trend continues, the resources would be exhausted in six weeks.
The law approved by the Legislature establishes that emergency coverage ends on July 31 or when the assigned budget of Q2 billion is exhausted. However, during the session this Thursday, June 4, no proposal was presented to extend or expand support for consumers.
The Minister of Energy and Mines, Víctor Hugo Ventura Ruiz, explained that he hopes that it will not be necessary to extend the subsidy. He added that targeting options are being analyzed, although it is still a discussion from which no official approach has emerged.
He assured that any decision that is adopted will be announced in the coming days.
No plan to extend support
“The subsidy generated more consumption and prices recovered demand. There was faster consumption. There is no drop in demand due to prices and it was more resistant. There is no space or proposal from the Executive and there is no technical proposal either,” explained deputy Julio Héctor Estrada Domínguez, president of the Congressional Finance Commission.
He assured that the Ministry of Energy and Mines (MEM) is working on a targeted subsidy proposal.
“What is certain is that (consumers) are going to face a price rise at the beginning of July. We are waiting to see if a proposal and action will be presented, because the Plenary Session would have to be urgently convened before the end of the month,” he said.
In any case, he said that, if something exceptional does not happen, such as expanding the subsidy, we would have to start preparing for adjustments in July.
Regarding an extension or expansion of a new cycle of subsidies, the deputy reiterated that it will depend on the actions presented by the Executive in the coming days, in order to react politically and seek agreements.