Puerto Rico’s Department of Hacienda (Treasury) warned on Tuesday that eliminating the petroleum excise tax known as "la crudita" would not guarantee consumers a 36.9-cent-per-gallon price reduction, while the Fiscal Agency and Financial Advisory Authority (AAFAF) said the collected funds are now part of the General Fund’s recurring revenues. Yoadis Rodríguez Berríos, representing Hacienda, told the Senate Treasury, Budget and PROMESA Committee that the $15.50-per-barrel charge mathematically equals about 36.9 cents per gallon, but savings would depend on market conditions, transportation and distribution costs, and how much of the reduction is passed to consumers.
Politics
Treasury Department: Eliminating Oil Excise Tax Won’t Guarantee Lower Gas Prices
At a glance
- Eliminating the 'crudita' tax may not guarantee a 36.9 cents per gallon reduction for consumers
- The tax revenue now goes to the General Fund to support government services
- The Petroleum Products account registered approximately $466.7 million during the 2026 fiscal year
Why this matters: The potential elimination of the 'crudita' tax could impact the cost of living for Puerto Rican households, as well as the island’s economy, which relies heavily on imported fuel.
In context
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