Chile’s government reached an agreement with major trucking groups that promises to cut diesel by 142 pesos per liter and cap fuel prices through March 31, 2027, although some protesters are still holding out.
The diesel cut would reverse a 42-peso increase that took effect this week. It would also include an additional 100-peso cut. The deal would reverse a 39-peso increase in gasoline.
Under the plan, fuel prices may stay the same or become cheaper. They cannot rise above a limit based on Nov. 12 prices after the agreed reductions. The government has submitted legislation to Congress to put the measures in place.
Officials said they hoped it would become law the following Tuesday. The package expands diesel-tax refunds for road freight companies. It also raises the toll rebate for intercity buses from 35% to 70%.
The agreement followed three days of disruption and negotiations with major transport confederations. The confederations said the deal would end their stoppage. Independent truckers and the No+TAG motorists’ movement rejected the deal.
They continued their protests, so the settlement did not fully end the mobilizations.