Puerto Rico lifts fuel taxes for 45 days as gas price soars
Published:Thursday | June 16, 2022 | 11:47 AM
SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor has signed a measure suspending taxes on gasoline and diesel for 45 days amid the worldwide surge in petroleum prices.
The United States territory currently imposes a tax of 16 cents per gallon of gasoline and 4 cents per gallon of diesel.
Governor Pedro Pierluisi said an additional $25 million will be added to the government's general fund to make up for the loss of revenue as a result of the temporary tax moratorium.
Officials say they expect a gallon of gasoline in Puerto Rico to reach $6 in the upcoming months.
Experts blame the rising prices on higher crude oil costs and limited gasoline supplies following disruptions from the COVID-19 pandemic and partly from Russia's invasion of Ukraine.
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