Gas Prices Just Went Up: Extra and Ecopaís Hit $2.76 Starting Today

If you filled up your tank yesterday, good timing. As of today — February 12 — Ecuador's monthly fuel price adjustment kicked in, and gasoline got more expensive.

The New Prices

These prices are effective February 12 through March 11, 2026, when they'll reset again.

Why Prices Change on the 12th

Ecuador uses a "band system" (sistema de bandas) that adjusts fuel prices on the 12th of every month based on international crude oil market rates. When global oil prices go up, Ecuador's pump prices follow. When they drop, you get a small break.

This month, gasoline tracked upward while diesel got a marginal decrease.

The Diesel Tweak

President Noboa issued Decree 303, temporarily modifying the formula used to calculate diesel prices through March 11. The new calculation uses the 20 most recent available records of the Colonial 62 Pipe USGC marker instead of the standard methodology. Translation: the government adjusted which international price benchmark they're using for diesel, resulting in the tiny decrease.

What This Means for You

If you drive a gas-powered car (most people in Cuenca), you're paying about $0.09 more per gallon starting today. On a typical 12-gallon fill-up, that's roughly $1.08 more per tank.

Not devastating, but it adds up — especially if you're driving to the coast for Carnival this weekend. Budget accordingly.

For diesel vehicle owners and bus riders, the change is negligible. But keep in mind that commercial transportation costs track diesel prices, so the small decrease could help keep goods prices stable — emphasis on "could."

Quick Reminder

Ecuador's fuel prices are among the lowest in South America, even after this increase. For context, gasoline in Colombia runs over $3.50/gallon and in Chile over $5.00/gallon. The band system keeps Ecuador's prices anchored to international markets but with government-managed adjustments that prevent wild swings.

Next reset: March 12, 2026.

Sources: Teleamazonas, El Comercio