2008News

I&C suspends diesel subsidy

The Ministry of Industry and Commerce has suspended the sale of subsidized diesel fuel to the transport unions. Saturday’s announcement by minister Melanio Paredes was forced on the government as a result of the continuing increase in the price of a barrel of oil. Over the weekend the price of oil hit US$142 a barrel. In a press release handed out to reporters, Paredes said that a number of alternatives were being discussed with transport leaders in meetings coordinated by OPRET – the Transport Reorganization Office. The minister added that the government was doing all it could to minimize the impact of rising oil prices on transport and consumers.