PERU · ENERGY
Key Facts
- —The country Peru imports about half the fuel it uses, officials say.
- —What happened Gasoline averaged S/21.88 (US$6.36) a gallon, up 40.6% in a year.
- —The oil price Brent crude traded above US$105 a barrel on Thursday, 8 October.
- —Official data Regular gasohol cost 38.7% more in September, after inflation.
- —The response Targeted S/4 (US$1.16) per gallon subsidies, but no fuel tax cut.
- —Still open No new relief had been announced after Thursday’s oil jump.
Official figures back up a sharp rise at Peru’s pumps, while the government keeps relying on narrow subsidies rather than tax relief.
Peru gasoline prices are about 40% higher than a year ago, the Lima daily La República reported on Thursday, 8 October. Its national average for 95-octane gasoline reached S/21.88 a gallon (about US$6.36), up 40.6% from a year earlier.
The report came as Brent crude, the global oil benchmark, traded above US$105 a barrel. Peruvian drivers now pay about 46% more than the US average of US$4.35 a gallon.
What the Pump Price Data Show
La República based its average on GlobalPetrolPrices data drawn from prices of Petroperú, the state-owned refiner. It said prices rose about 8% in the past three months alone.
Facilito, the price app of the energy regulator Osinergmin, listed regular gasoline at S/21.99 a gallon (US$6.39), the paper reported. Premium cost S/23.69 (US$6.89) and diesel S/26.19 (US$7.61).
In the paper’s Lima station survey, premium ranged from S/21.98 (US$6.39) at a Petroperú station to S/26.49 (US$7.70).
The central bank’s real price index shows regular gasohol, a gasoline and ethanol blend, 38.7% dearer in September than a year earlier.
Diesel rose 51.7% in real terms over the same period. Conversions here use S/3.44 per US dollar, close to the central bank’s latest published banking-system rate.
The National Institute of Statistics and Informatics (INEI) said gasohol rose 5.8% in September alone, citing higher world oil prices. Lima’s annual inflation reached 4.55%, above the central bank’s 1% to 3% target range.
Wholesale Prices Climbed Even Faster
Petroperú’s wholesale list from Tuesday, 6 October, priced regular gasohol at S/19.13 a gallon (US$5.56) at its Callao plant, taxes included. That is 67% above the S/11.45 (US$3.33) on its list a year earlier.
Diesel for vehicles at Callao cost S/22.46 (US$6.53), up 83% from S/12.30 (US$3.57) a year ago. Pump prices, which also cover transport and retail costs, rose less in percentage terms.
The latest lists brought some relief. Regular gasohol at Callao fell 3.5% between 24 September and 6 October, before Thursday’s oil jump.
West Texas Intermediate, the US crude benchmark, settled 3.64% higher at US$91.49 a barrel on Thursday, Gestión reported. A year earlier it traded at US$62.55, central bank data show.
Brent rose almost 5% to above US$105 during the session, the Mexican business site Expansión reported. It settled 4.1% higher at US$104.28, ICE exchange data show.
Reports linked the rally to a ship attack near the Strait of Hormuz and a Gulf of Mexico hurricane.
Live Market IntelligenceCommodities — Live Market Board
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Commodities — Live Market Board
-0.03%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| GOLD | 4,461 | +1.78% | +33.20% | 4,383 | 4,503 | 4,421 | 139,824 |
| SILVER | 65.59 | +1.26% | +73.05% | 64.77 | 66.98 | 64.81 | 46,406 |
| BRENT | 88.88 | -0.03% | +34.42% | 88.91 | 90.07 | 88.12 | 29,713 |
| WTI | 83.11 | -0.11% | +31.57% | 83.20 | 84.35 | 82.40 | 166,848 |
| COPPER | 6.61 | +0.03% | +46.70% | 6.61 | 6.71 | 6.61 | 39,543 |
| LITHIUM | 75.20 | +1.47% | +62.95% | 74.11 | 75.80 | 75.08 | 89,275 |
| IRON ORE | 161.91 | — | +58.10% | 161.91 | 161.91 | 1 | |
| SOY | 1,184 | +3.20% | +17.05% | 1,148 | 1,199 | 1,168 | 163,179 |
| CORN | 480.50 | +10.02% | +29.34% | 436.75 | 480.75 | 459.50 | 341,248 |
| WHEAT | 655.00 | +3.93% | +29.70% | 630.25 | 657.75 | 631.50 | 128,793 |
| COFFEE | 317.25 | -5.51% | +0.67% | 335.75 | 321.20 | 313.55 | 21,747 |
| SUGAR | 16.43 | -1.79% | -3.01% | 16.73 | 17.11 | 16.22 | 171,992 |
| COCOA | 5,719 | +3.18% | -34.96% | 5,543 | 5,779 | 5,574 | 26,773 |
| ORANGE JUICE | 138.55 | -0.47% | -45.38% | 139.20 | 141.05 | 137.50 | 703 |
| COTTON | 85.03 | +2.33% | +26.78% | 83.09 | 82.90 | 81.96 | 16,546 |
| BEEF | 223.60 | -3.93% | -5.18% | 232.75 | 226.40 | 223.00 | 16,126 |
| CATTLE | 339.10 | -3.16% | -1.82% | 350.17 | 345.50 | 338.60 | 10,164 |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
How the Government Has Responded
President Keiko Fujimori, leader of the conservative Fuerza Popular party, has chosen narrow help over broad price cuts. Finance Minister Elmer Cuba said in August the state would not offer “broad-spectrum subsidies.”
Emergency Decree 007-2026 set aside up to S/105 million (US$30.5 million) for bus and freight operators. Its national scheme pays S/4 (US$1.16) per gallon of diesel until 15 November.
A second decree pays Amazon mototaxi drivers in Loreto, Ucayali and Madre de Dios S/4 (US$1.16) per gallon of gasoline. The aid is capped at S/100 (US$29) a month and runs until 18 December.
The excise tax on fuel, known as ISC, has not been cut. Petroperú’s lists show it at S/1.16 (US$0.34) per gallon of regular gasohol, the same as a year ago.
Gasoline is also absent from the Energy Ministry’s list of products covered by the FEPC, a fuel price stabilisation fund.
On Wednesday, 7 October, Cuba said fiscal policy “will have to be expansionary” to offset the oil shock. He gave no size or timetable.
What It Means for You
For US investors, costlier fuel is pushing Peru’s inflation above target, which could keep local borrowing costs higher. BBVA Research attributes about two percentage points of inflation to fuel and transport, La República reported.
Peru also depends on imports. Energy and Mines Minister Guillermo Shinno told Congress in September that about half its fuel comes from abroad, Gestión reported.
US refiners shipped Peru 93,000 barrels a day of diesel and similar fuels in July, Energy Information Administration data show.
For travellers, filling a 15-gallon tank with regular gasoline costs about S/330 (US$96) at Facilito’s listed price. The same tank costs about US$65 at the US average price.
US gasoline has also risen about 39% in a year, to US$4.35 a gallon on 5 October.
What Is Not Known
It is not clear whether Petroperú and Repsol will pass Thursday’s oil jump into their next price lists. The 40.6% figure comes from a private price site, not from Peru’s statistics office.
The government has not said whether it will extend the diesel subsidy beyond 15 November or help private drivers. The size and timing of Cuba’s planned fiscal measures are also unknown.
In September, RPP reported that the Energy Ministry was preparing a decree to treat fuels as essential goods. Its current status is unclear.
What Comes Next
Petroperú has issued new wholesale lists about twice a week since late September, so a fresh list could reflect Thursday’s move. The third period of the diesel subsidy runs from 16 October to 15 November.
The finance ministry will validate the first mototaxi subsidy claims from 19 to 26 October. INEI is due to publish October inflation in early November.
The yearly jump does not mean prices will rise every week. Petroperú cut its Callao price for regular gasohol twice in the two weeks before Thursday.
Frequently Asked Questions
How much does gasoline cost in Peru?
The national average was S/21.88 (US$6.36) a gallon in October, a Lima newspaper reported. The regulator’s Facilito app listed regular gasoline at S/21.99 (US$6.39).
Why are fuel prices rising in Peru?
World oil prices have climbed, and Brent traded above US$105 a barrel on 8 October. Peru imports about half the fuel it uses, so global prices pass through quickly.
Is Peru subsidising fuel?
Only for some groups, at S/4 (US$1.16) a gallon: diesel for bus and freight operators, gasoline for Amazon mototaxi drivers. The fuel excise tax has not been cut.
How do Peruvian fuel prices compare with the US?
Peruvian drivers pay about US$6.36 a gallon for gasoline on average. The US average for regular was US$4.35 on 5 October, US government data show.
Will fuel prices in Peru keep rising?
That depends mainly on oil prices and on wholesale lists from the state refiner and Repsol. Wholesale prices eased in early October before oil jumped on Thursday.
Sources: Central Reserve Bank of Peru, real fuel price indices; Central Reserve Bank of Peru, WTI price; INEI, September consumer prices; Petroperú, wholesale price lists; Ministry of Economy and Finance, Emergency Decree 007-2026; Ministry of Economy and Finance, Emergency Decree 011-2026; Ministry of Economy and Finance, 7 October; Ministry of Energy and Mines, FEPC products; US Energy Information Administration, exports; US Energy Information Administration, retail prices; La República; Gestión, oil; Gestión, fuel imports; El Comercio; RPP; Expansión; ICE Futures Europe, Brent (all accessed 9 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief