Gas Prices Went Up ~5% on March 12 — Here's What You're Paying Now

The New Prices

If you've noticed your fill-up costing a bit more lately, you're not imagining it. Fuel prices went up on March 12 under Ecuador's monthly price-band adjustment system:

Fuel Type	Previous Price	New Price	Change
Extra / Ecopaís	$2.763/gal	$2.89/gal	+4.6%
Diesel	$2.70/gal	$2.828/gal	+4.7%
Super (premium)	$3.47/gal	$3.62/gal	+4.3%

These prices are effective through April 11, when the next monthly adjustment will be calculated.

Why Prices Went Up

Ecuador's fuel pricing system uses monthly bands — prices are adjusted on the 12th of each month based on the international WTI crude oil reference price. The increase can't exceed 5% per month (a cap designed to prevent price shocks).

This month's increase was driven by:

• Elevated WTI crude prices linked to the ongoing Middle East conflict
• The 5% monthly cap was nearly maxed out — meaning global prices would have pushed the increase even higher without the cap

What This Means in Practice

For a typical car (12-gallon tank of Extra):

• Previous fill-up: ~$33.16
• New fill-up: ~$34.68
• Difference: about $1.52 per tank

For diesel vehicles (trucks, some SUVs):

• The diesel increase is proportionally similar
• If you heat water with diesel (some older buildings do), your utility costs may tick up slightly

Context: Ecuador's Gas Is Still Cheap

Even with the increase, Ecuador's fuel prices remain well below US and European levels:

• US average (March 2026): ~$3.50/gallon
• Ecuador Extra: $2.89/gallon
• Ecuador is dollarized, so the comparison is direct — no exchange rate math needed

Ecuador's prices are subsidized (the government absorbs part of the cost), which is why they're lower than the US despite Ecuador being a net oil exporter with higher production costs.

Practical Tip

If you're tracking your monthly budget, factor in the new prices. And if you've been putting off that drive to the coast or to Vilcabamba — the fuel cost difference is about $1-2 extra each way. Not enough to change your plans.

Next adjustment: April 12.

Source: Primicias, El Universo