President Hipolito Mejia said that next week he will start the gradual reduction of the exchange commission. The commission was increased by 3.25% to 5% when the Fernandez administration chose not to pass on to consumers an increase in local fuel prices. The surcharge on foreign exchange transactions was to be eliminated once petroleum prices were adjusted locally. The Mejia administration increased fuel prices with the passing of the Petroleum Law, but did not adjust downward the commission despite appeals by the business sector. “Next week we will start to reduce it little by little,” said the President. “Don’t worry over by how much. I said I would reduce it little by little,” he said.
