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.
The committee, chaired by Senator Migdalia Padilla Alvelo, began examining Senate Resolution 461, filed by Senator Wilmer Reyes Berríos, which orders an investigation into