2024-08-24 15:33:31
Fuel distributors will hold a sit-in on July 25 in front of the Carondelet Palace in Quito to demand a meeting with the Ministers of Economy and Finance, Juan Carlos Vega, and Energy and Mines, Antonio Goncalves.
Ivo Rosero, president of the National Chamber of Distributors of Petroleum Derivatives, denounced on the morning of Friday, July 19, 2024, the serious financial situation faced by more than 600 stations in Ecuador, pointing out that the lack of adjustment in their profit margins for 21 years has led many to operate only at the break-even point or even at a loss.
In an interview with Pichincha Universal, Rosero explained that the situation has deteriorated to the point that some stations have had to close, and many others are struggling to stay afloat due to the high cost of transportation and the freezing of the profit margin in cents.
For two years, the union has organised sit-ins to put pressure on the government. Despite having submitted numerous letters to the President and ministers, the union has not received a concrete response.
Rosero said that despite a recent increase in fuel prices, stations have not seen an adjustment in their profit margins. He said the price increase has benefited the government, which has collected an additional 29 cents per gallon, while the margin for service stations remains frozen.