Ecuador's 'Super' Gasoline Stays Most Expensive Amidst Price Reforms

Ecuador's "Super" gasoline continues to hold the highest price tag, a situation stemming from its exclusion from state subsidies and a recent government mechanism designed to cushion the impact of fluctuating global oil prices. While other fuels like Extra, Ecopaís, and diesel saw price reductions, "Super" operates under a different, liberalized free-market scheme.

Minister of Environment and Energy, Juan Carlos Blum, clarified that the price band system and the new formula, established by Executive Decree 444, exclusively apply to automotive diesel, Extra gasoline, and Ecopaís gasoline. "The fuels subject to the band are automotive diesel, Extra gasoline consumed in the Andean region, and Ecopaís gasoline consumed in the Littoral or Coastal region of Ecuador. Super is liberalized; its import and sale are to the free market," he stated.

Ivo Rosero, president of the National Chamber of Petroleum Derivatives Distributors of Ecuador (Camddepe), elaborated that "Super" gasoline's price is determined by a distinct methodology. This system considers variables such as import costs, transportation, storage, and commercialization. Unlike other fuels with uniform prices, "Super" allows distributors a margin to set the final value. Mauricio Cueva Ojeda, president of the El Pinar service station group, explained that while the state publishes a reference price, retailers can adjust it based on competition and location, with the state setting only a maximum ceiling.

However, economist Alberto Acosta Burneo, editor of Análisis Semanal, has raised concerns. He noted that "Super" gasoline's price in Ecuador has not mirrored the recent drops observed in international markets. Historically, "Super" prices closely followed benchmarks like those in Houston. Data from the specialized portal AAA Gas Prices showed the average price for gasoline in the U.S. at $4.2870 per gallon at the time of the report, a figure significantly lower than Ecuador's "Super" price of $5.61 per gallon for the July 12 to August 11 period.