Energy Minister Ximena Rincón addressed this morning the significant rise in fuel prices that will take effect this week and announced that the bill to freeze the price of kerosene during the fall and winter of 2026 will be submitted to Congress on Tuesday for immediate discussion. In an interview with T13, the minister explained that the initiative aims to strengthen the stabilization fund for kerosene prices, which currently has $5 million. “This fund has very little money left, and this bill that has to be submitted today to the legislative process in the Chamber of Deputies will increase the fund by $60 million, allowing us to take the necessary measures for kerosene, which is very important for the public,” she stated.
Rincón also addressed comparisons made by opposition figures and former Finance Minister Mario Marcel, who recalled that during the conflict between Russia and Ukraine—when oil prices exceeded $100 for several months—the government of Gabriel Boric chose to maintain the Fuel Price Stabilization Mechanism (Mepco) to cushion the impact on consumers. In this regard, the minister emphasized that the current fiscal context is different from that period. “In four years, the country has incurred over $40 billion in debt, and the state’s treasury, obviously, has been left empty, with no room to absorb this crisis,” she affirmed.
Similarly, she supported the statements of Finance Minister Jorge Quiroz, noting that while Mepco benefits the population, its impact is greater on higher-income sectors, which forces prioritization of fiscal resources. “Waiting lists are extremely important, so it’s a complex decision when you don’t have resources because, of course, the previous government had a different fiscal situation than that left by the previous president,” the minister indicated, referring to the Piñera administration. “This government, under President José Antonio Kast, has a treasury that is at zero to face such situations,” she added.