Portrait of Fuel Scarcity, Prices Soar – Residents Cry Out

According to Reuters, government officials stated that pressures on public finances have left the country unable to absorb the surge in energy costs. As a result, 93-octane petrol prices have jumped by around 30%, while diesel has risen by up to 60%. Long queues have been visible since Monday (23/3), with several stations running out of stock. Victor Salas from the Faculty of Administration and Economics at the University of Santiago assessed that this policy will ultimately pass the oil costs directly onto the domestic economy. He also warned of potential significant social and political impacts. REUTERS/Diego Reyes