Fuel prices in Guatemala have risen significantly following the expiration of a government subsidy program.
Between July 2, the final day of the subsidy, and July 20, gasoline prices increased by Q9 per gallon, while diesel costs climbed by Q15 per gallon, according to local reporting from Prensa Libre.
In Europe, for instance, gasoline and diesel prices have also seen significant year-on-year increases, with EU diesel prices up 29% and gasoline up 16% in May, contributing to wider consumer price index pressures.
The sharp increase in pump prices comes as consumers in the country face higher transportation and logistics costs.
The removal of the subsidy has immediately translated into higher retail prices for both gasoline and diesel, impacting daily commutes and freight operations.
This development mirrors broader trends in fuel cost volatility seen elsewhere.
In Europe, for instance, gasoline and diesel prices have also seen significant year-on-year increases, with EU diesel prices up 29% and gasoline up 16% in May, contributing to wider consumer price index pressures.