Chile Fuel Prices Projected to Rise in Early May

Gasoline prices in Chile are projected to increase by at least 35 pesos during the first week of May 2026. This forecast follows a period of price stability maintained through the end of April.

The anticipated rise comes amid broader economic pressures, including projections that annual inflation will exceed 4% in April 2026, according to reporting from La Tercera.

Reporting from BioBioChile and La Tercera indicates that the 35 peso increase for gasoline is expected to take effect during the opening week of May. This upward trend is attributed by 24horas to a broader crisis del petróleo affecting global markets.

Divergent Trends for Diesel

While gasoline prices are expected to climb, diesel may follow a different trajectory. An expert from the Observatorio del Contexto Económico of the Universidad Diego Portales (UDP) has projected a 10 peso decrease for diesel prices.

This divergence between fuel types often reflects the different international benchmarks and market pressures affecting refined gasoline versus diesel distillates.

Recent Price Stability

The projected increase follows a brief window of price consistency. According to El Desconcierto, gasoline and diesel values remained stable as of Thursday, April 30, 2026, during a long holiday weekend.

The stability during the holiday period provided a temporary reprieve for consumers before the projected May adjustments.

Economic Context and Inflation

The timing of these fuel adjustments coincides with a challenging inflationary environment. La Tercera reported that annual inflation is expected to surpass the 4% threshold in April 2026.

Fuel costs in Chile are heavily influenced by the Empresa Nacional del Petróleo (Enap) and the Price Stabilization Mechanism (MEP). The MEP is designed to smooth out the volatility of international oil prices to prevent abrupt spikes at the pump, though it cannot fully insulate the domestic market from sustained global crises.

The projected 35 peso increase suggests that the stabilization funds may be facing pressure from the current oil market conditions described by analysts as a crisis.

For the Chilean economy, fuel price volatility typically has a cascading effect on logistics and transportation costs, which can further contribute to the inflationary pressures noted in the April projections.

As of May 2, 2026, consumers are monitoring Enap’s official pricing updates to confirm the exact magnitude of the increase for the current week.