Chile’s government agreed a deal with trucking leaders on Thursday 12 November 2026 to cut diesel prices by 142 pesos a litre (about US$0.14, at about 994 pesos per US$ in market trading on 12 November 2026). The package aims to end a strike that began on Tuesday 10 November, and it also reverses a 39-peso (about US$0.04) rise in gasoline prices.
Drivers, freight firms and fuel buyers across Chile are the people directly affected. The strike is not fully over, because No + TAG, a motorists’ protest movement against highway toll charges, says its stoppage will continue.
Key Facts
—Power Index Chile ranks 3rd of 14 in The Rio Times Latin America Power Index, with 62.9 points (November 2026 edition).
—What. Diesel falls 142 pesos a litre (about US$0.14) under the deal, and a diesel price ceiling is set.
—When. Deal announced Thursday 12 November; the government expects Congress to pass the bill on Tuesday 17 November.
—Cost. Finance Minister Jorge Quiroz puts the cost at about US$500 million over 2026 and 2027.
—Gasoline. The deal also reverses a 39-peso (about US$0.04) gasoline price rise.
—Strike status. No + TAG, a motorists’ protest movement against highway tolls, says it will continue.
The government agreed a diesel price cut, a price ceiling until 31 March 2027 and a tax refund with trucking leaders, but one protest movement says its stoppage continues.
What Happened
Interior Minister Claudio Alvarado, who is also the government spokesman, and Finance Minister Jorge Quiroz announced the agreement on Thursday 12 November 2026. It was reached with leaders of two trucking confederations, Fuerza del Norte and Centro Sur.
The 142-peso diesel cut combines the reversal of a 42-peso (about US$0.04) increase that took effect on Thursday with a further 100-peso (about US$0.10) cut. The government also set a diesel price ceiling that runs until 31 March 2027 and renewed, through December 2027, a refund of the specific diesel tax, an excise duty on diesel, for carriers.
The government sent a bill with “immediate discussion” urgency to the Chamber of Deputies, the lower house of Congress, to turn the cut into law. Alvarado said he expects the bill to be approved on Tuesday 17 November, with prices falling from the following week.
Why It Matters
Diesel prices in Chile are managed through Mepco, the fuel price stabilisation mechanism, under which the state absorbs part of oil-price swings. Quiroz said the package costs about US$500 million, mostly in 2027.
The strike has put pressure on fuel policy within three days. Truckers blocked highways, including Route 68 between Santiago and the coast, on 10 November.
Earlier coverage: Chile Fuel Prices Rise as Truckers Strike. More is in our Chile coverage.
What Is Not Known
It is not clear when the stoppage will fully end. No + TAG, whose spokesman is Andrés Alarcón, said it would continue.
Reports differ on which trucking groups signed the deal. On 11 November the government had offered a 74-day price freeze, and the truckers had asked for about four months.
What to Watch Next
Watch the Chamber of Deputies, where Alvarado expects the bill to pass on Tuesday 17 November. Watch also whether No + TAG ends its stoppage once the cut takes effect, which the government says will be from the following week.
Frequently Asked Questions
Has the Chilean truckers’ strike ended?
Partly. Truckers’ leaders signed the deal, but the No + TAG movement said its stoppage would continue.
How much will diesel fall?
The deal cuts diesel by 142 pesos a litre (about US$0.14), made up of a 42-peso reversal and a 100-peso discount. The government expects Congress to pass the bill on Tuesday 17 November, with prices falling the following week.
Does the deal cover gasoline?
It reverses the 39-peso (about US$0.04) gasoline rise. The extra 100-peso cut applies to diesel only, according to the reports.
Sources: Rio Times newsroom review of official statements and public records, 12 November 2026.
In depth
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