Energy inflation in Latin America reached a higher level of 2026

ANDthis figure also exceeds the total inflation of 4.49%, which, according to Olacde in a statement this Saturday, indicates that energy costs “are rising at a much faster pace than the rest of the consumer price index basket (IPC) components”.

The organization, based in Quito, explained that the increase is “linked mainly to the geopolitical tensions in the Middle East” and to the “risks associated with oil supply, which increased the costs related to import, refining and transport.”.

“ This effect was transferred to the domestic markets, especially with regard to fuels: in June, the average regional price of gasoline reached the highest level of the first half,” added the organization in a statement.

However, Olacde pointed out that the impact did not immediately or symmetrically pass on to consumers, as in the first weeks of the US-Iran conflict the price of oil increased by about 60%, while fuels rose by almost 20%.

Despite the fact that the value of the crude has subsequently receded in relation to the maximums, the increase in fuel has persisted in the region, “developing a gap between the evolution of international prices and the values paid on domestic markets”, says the information note.

The body also highlighted variations between countries, as subsidies, controls and stabilisation mechanisms have been implemented which allow some markets to maintain relatively low prices.

On the other hand, he added that other nations face higher values due to their pricing structures and higher logistical and operational costs.

Olacde stated that the high persistence of fuel prices extends its impact beyond the energy sector, as it increases costs associated with mobility and freight transport; it affects family expenses and influences productive costs.

The Strait of Ormuz, between Iran and Oman, is one of the world's main routes to transport oil and gas and has become one of the main points of tension in the conflict between the United States and Iran.

The North Sea crude, closed the session on the futures market of the Intercontinental Exchange of London to rate $0.61 (€0.53) above the $93.78 (€81.6) with which the transactions ended on Thursday.

At the same time, Brent oil continued its upward trend and, after breaking the 90-dollar barrier (EUR 78.3) on Monday, closed the week near $95 (82.7) in the face of the expectations of a prolonged conflict in the Middle East, given the renewed tensions between Washington and Tehran.

The rise in barrel quotation is a response to the economic offensive against Iran announced this week by the President of the United States, described as the most impactful operation ever carried out against a country, which seeks to cut funding and economic support to the Islamic Republic.