Uruguay announces new fuel price increase

Uruguayan Economy Minister Gabriel Oddone has confirmed that fuel prices in the country will increase again starting Friday, driven by rising international oil prices.

However, he said the exact size of the price hike has not yet been determined, describing the situation as “complex,” News.Az reports, citing Xinhua.

According to Oddone, the final decision will be taken jointly by the relevant ministries, weighing both technical assessments and political factors, given the impact of fuel prices on inflation and overall economic activity.

The government is also exploring ways to reduce the burden on consumers and businesses. Oddone noted that Uruguay cannot escape global energy market trends.

“It would be poor management if we postponed decisions indefinitely and then had to make a very abrupt jump,” he said. “The idea is to continue softening the impact,” while acknowledging the challenging international price environment.

Earlier this month, Uruguay raised fuel prices by 7 percent. As the country imports all of its oil, changes in global crude prices directly influence domestic fuel costs.

News.Az 

By Nijat Babayev