2024-08-02 21:54:36
The profit margin for service stations has remained at USD 0.16 for Extra and Ecopaís gasoline for 21 years.
Fuel distributors held a sit-in on the morning of July 8 in front of the Carondelet Palace in Quito, rejecting the maintenance of the current profit margin on gasoline sales for the sector, despite the increase in the sales price.
Fuel Distributors Protest at the Government Palace. pic.twitter.com/OLAVekW3XA
— CAMDDEPE (@camddepe) July 8, 2024
According to the National Chamber of Distributors of Petroleum Derivatives of Ecuador (Camddepe), the Government has not fulfilled the offer it made in March to update the marketing or profit margin for fuel distributors.
The marketing margin has been frozen for 21 years, being USD 0.16 for Extra and Ecopaís gasoline, and 0.13 for diesel, without Value Added Tax (VAT).
This margin was maintained in Executive Decree 308, published on June 26, 2024, which establishes the increase in Extra and Ecopaís gasoline from USD 2.465 to USD 2.722.
The increase came into effect on June 28, 2024. For the distributors’ union, maintaining the current sales margins means that the sector continues to “work at a loss.” The sector has requested an audience with the President of the Republic, Daniel Noboa, and his Ministers of Economy and Energy.
By: PRIMICIAS