The Ministry of Finance said, in a statement, that given the market data, the price of diesel is expected this week to record an “increase of four cents per liter” while “maintaining the price of a liter of gasoline.” Released on Thursday.

“According to market data, the price of diesel is expected to rise by four cents per liter next week, with the expectation that the price of a liter of gasoline will continue,” the ministry, led by Fernando Medina, said in a statement.

Based on this development in the price of a liter of diesel, the weekly mechanism for reviewing the unit rate values ​​of the ISP should result in a reduction of 0.6 cents per liter of diesel and gasoline maintenance.

However, “taking into account that there is currently a cumulative deviation of 2.2 cents in the ISP rate per liter of diesel”, the decrease resulting from applying the formula (0.6 cents per liter of diesel) “is subtracted from the aforementioned deviation, the ministry said that That change in ISP rates did not materialize.”

In the case of gasoline, the deviation is currently 0.9 cents per liter, and the rate remains unchanged.

That way, the ISP’s temporary discount of 4.7 cents per liter for diesel and 3.7 cents per liter for gasoline will continue this week.

It should be noted that as a way to mitigate the rise in fuel prices, the government decided to create a compensation mechanism through which ISP rates would be adjusted according to the increase in VAT revenue generated by the increase in the selling price of diesel liter. and gasoline.

This adjustment is made weekly and is added to a discount of one cent per liter on diesel and two years on gasoline in effect since October.

From May, in addition to this weekly mechanism, a new measure will come into force according to which ISP rates on diesel and gasoline liter will be reduced by an amount equivalent to what would result from a decrease from 23% to 13% in the VAT rate on fuel.