President-elect Hipólito Mejía favors that the present authorities should adjust fuel prices now to reflect the increase in the cost of petrol. Mejía is concerned with the fiscal deficit not increasing prices now will bring to his government that starts 16 August. "All we need is a clear petrol pricing policy," he said. If the cost of fuel goes up, the price increases; if the international price drops, then prices drop," he said, advocating transparency. The Fernández government ran into problems because it did not drop petrol prices during years of low prices. The last time fuel prices were increased as in October 1999, when international price was at US$25 the barrel. With world market prices hitting US$32, a price increase is now called for. But Secretary of the Presidency Alejandrina Germán says that decision will be left to the new government. "President Fernández has been clear that his government will not assume during the transition period no task that may compromise or affect policies to be applied by the new administration," she said.<\/p>\n","protected":false},"excerpt":{"rendered":"
President-elect Hipólito Mejía favors that the present authorities should adjust fuel prices now to reflect the increase in the cost of petrol. Mejía is concerned with the fiscal deficit not increasing prices now will bring to his government that starts 16 August. "All we need is a clear petrol pricing policy," he said. If the … <\/p>\n