LatinNews Daily - 01 May 2026

*Uruguay’s ministry of economy and finance (MEF) has announced that the government led by President Yamandú Orsi is continuing to “cushion” the impact of rising oil prices due to the war in the Middle East. In a statement, the MEF said that although the adjustments needed to reach the reference prices would entail increases of 11% for gasoline, 46% for diesel, and 12% for liquefied petroleum gas (LPG), the actual price increases for Uruguayans would be 7%, 14%, and 7%, respectively. It said that this meant that the new fuel prices are set at UY$88.03 (US$2.18) per litre for gasoline, UY$57.72 per litre for 50S diesel, and UY$101.26 per kilogramme for LPG. The MEF said that while other countries in the region, such as Argentina, Brazil, Chile, and Peru had hiked fuel prices more, Uruguay has “opted for a strategy of cushioning the impact”. It said that in April, price increases of 7% were implemented for the three main fuels, “which was lower than what would have been expected based on the international reference price”, meaning “Uruguay emerged as one of the economies that passed on the least impact of the price shock to its consumers, both regionally and globally, during the months of March and April”.

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