Ecuador reduces diesel prices slightly as national strike concludes
Ecuadorian President Daniel Noboa announced a modest reduction in diesel prices, lowering the cost from $2.80 per gallon to $2.78 on Dec. 15 and further to $2.70 in February. The decision comes shortly after the Confederation of Indigenous Nationalities of Ecuador ended a month-long national strike that had blocked major roads to protest the government’s elimination of diesel subsidies, which had increased prices by about $1 per gallon.
Noboa emphasized that the price adjustment would help the productive and transport sectors plan ahead and protect households and the economy. The new pricing system, set to take effect Dec. 13, will allow diesel prices to fluctuate based on international oil rates, adjusting up to 5% higher or 10% lower per month depending on West Texas Intermediate crude. The Indigenous Confederation, while ending the strike, criticized government repression that resulted in at least three deaths, dozens of injuries, and over 100 detentions, and called on supporters to campaign against the government’s proposed referendum on constitutional reforms, foreign military bases, legislative changes, and public funding for political parties.
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