“According to market data, fuel prices are expected to drop by around 12 cents per litre of diesel and four cents per litre of gasoline next week,” said the Ministry of Finance.

According to the mechanism in force, which compensates through the ISP the rise or fall in VAT revenue caused by the evolution of fuel prices, the fall in the price of diesel and gasoline for the next week would determine an increase in the ISP.

However, and taking into account the current context, says the statement from the ministry led by Fernando Medina, the Government chose to "defer this adjustment to the moment when the ISP is reduced by the application of the formula, as happened last week."

“Thus, the Government determines to maintain the temporary discount of the ISP of 4.7 cents per liter of diesel and 3.7 cents per liter of gasoline, with the formula being applied again next week with the corresponding adjustments”.