The governor of Puerto Rico, Pedro Pierluisi, signed this Tuesday a measure that suspends taxes on gasoline and diesel for 45 days, in view of the global rise in oil prices.
This moratorium, included in the Joint Resolution of the Chamber 332, seeks to mitigate the impact of the increase in the price of oil on the consumer’s pocket, according to a statement from the local government.
Puerto Rico, a Commonwealth of the United States, currently taxes 16 cents a gallon for gasoline and 4 cents for diesel.
The Joint Subscription Association (ASC) will remit 25 million dollars to the General Fund before June 30, which will be used to compensate for the loss of collections from this temporary suspension of the tax on gasoline and diesel, popularly known as "the raw".
Meanwhile, the Department of the Treasury will temporarily suspend, up to a limit of 25 million dollars, the addition to the excise tax "the raw" which will be applicable to existing and available inventory.
“With this measure we seek give relief to the people and the economic impact on our families due to the increase in fuel prices as a result of the war between Russia and Ukraine, among other factors"said the governor.
While the moratorium lasts, the Department of Consumer Affairs (DACO) will maintain an order prohibiting increases in gross profit margins at all levels of distribution and sale of gasoline and diesel.
Likewise, the DACO and the Treasury must ensure that this reduction reaches the consumer and is reflected in the final price that he pays, the note added.
The Puerto Rican authorities have indicated that they expect the gallon of gasoline to reach the island the six dollars in the next few months.
