The suggested price of super gasoline in Ecuador has decreased by $0.17, with a new price set at $3.19 per gallon effective February 12 until March 11.
The price of super gasoline in Ecuador has seen a reduction, with the suggested price now at $3.19 per gallon, down from $3.36. This change will take effect from February 12 and will be maintained until March 11. Alongside this reduction, the country has also adjusted the prices for diesel and other gasoline types, reflecting fluctuating international oil prices.
This adjustment follows a trend seen since December 2018 when the price of super gasoline was liberalized, meaning it no longer receives government subsidies. The price is now determined by international oil market trends, with the West Texas Intermediate (WTI) serving as the benchmark. Previously, the price had been $3.36, which had already undergone a similar decrease of $0.17 at the start of January.
On the 12th of each month, Ecuador revises fuel prices based on the latest oil market conditions, and for this period, while super gasoline and diesel saw price drops, the prices for extra and ecopaÃs gasoline types have increased. This underscores the dynamic nature of fuel pricing in the country, influenced by global oil markets.
