BRIEFS: Economy

Government sets gas price limit

LA PRENSA

stabilized: The government plans to spend $6 million to keep gas prices from rising in the next 15 days.1094349

The government has decided to allocate $6 million to avoid a hike in gas prices for the next 15 days, and has established maximum prices that stations can charge.

The measures were announced yesterday by the executive secretary of Energy, Dani Kuzniecky, who explained that it was approved by the Ministerio de Economía y Finanzas (MEF).

An MEF source reported that the money will come from the government's anticipated budget surplus.

Gas stations that do not adhere to the maximum prices established by the government could face fines of more than $10,000.

The government has assigned a surveillance team that will monitor gas stations to ensure they comply with the decree.

“No entrepreneur who manages a gas station can charge a penny above what is being put into this decree,” said Pedro Meilán, director of the Autoridad de Protección al Consumidor y Defensa de la Competencia (Acodeco).

The government is seeking to stabilize gas prices, which have fluctuated wildly recently because of economic unrest in the United States and in other countries.