Gas prices to go up by 7 pesos next Thursday

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SANTIAGO. - According to the projections of Econsult, gasoline prices will go up on average by 7 pesos for unleaded and 10 pesos for diesel, starting on February 28, 2008.

The estimates of gas and diesel for the FEPC (Fuel Price Stabilization Fund) were calculated using today’s exchange rate of 467 pesos to the U.S. dollar, and the market prices of the Gulf Coast of the United States.

Econsult has reported that the price of gasoline # 93 will go up by 1.7%, the equivalent of 9 pesos; the price of # 97 by 1.1%, or 6 pesos; and the city diesel by 2.3%, around 10 pesos. The price change is expected to be seen at gas stations starting next Thursday, February 28th.

The price hike is explained by an increase of 5.1% in the international price of gasoline # 93 (Unleaded 87), a 4.0% increase in # 97 (Unleaded 93), and a 6.3% increase in the international price of diesel.