finance & economy

JORT: monthly adjustment rate of fuel sale price to public up from 5 to 7%.

November 24, 2022

(TAP) - The rate of monthly adjustment of the public selling price of fuel has been increased from 5 to 7%,under an order of the Minister of Industry, Mines and Energy of November 23, 2022, amending the order of the Minister of Energy and Mines and Energy Transition and the Minister of Finance of March 31, 2020, setting the composition and operation of the technical committee responsible for setting and monitoring the selling prices of imported finished petroleum products and those refined locally.

Article 1 of the order of the Minister of Industry, Mines and Energy of November 23, 2022, published in the JORT of November 23, 2023, thus cancels the provisions of the second paragraph of Article 5 of the order of March 31, 2020, and replaces them by the following: 'The value of the monthly adjustment of the selling price to the public cannot exceed, upwards or downwards, the rate of seven per cent (7%) of the selling price in force since the last adjustment'.

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