President of Ecuador issued reform to the Substitute Regulations for gasoline

Published at: 30/03/2024 03:58 PM

The president of Ecuador, Daniel Noboa, signed a decree updating the value of fuels and liquefied petroleum gas (LPG) in accordance with the three-point increase in Value Added Tax (VAT), which will take effect from April 1.

Through a signed decree, Noboa issued the reform to the Substitute Regulation for the Regulation of the Prices of Hydrocarbon Derivatives, the General Secretariat of the Presidency of Ecuador (SEGCOM) said in a statement this Saturday.

“This decision is due to the fact that, after the increase in VAT from 12% to 15%, it is necessary to update the prices of fuels and Liquefied Petroleum Gas (LPG),” he said.

Mazo News Team