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With gas prices soaring, Puerto Rico lifts fuel taxes

The U.S. territory is suspending taxes on gas and diesel for 45 days.
Image: Puerto Rico gas
A woman fills her car at the gas station during a government ordered quarantine aimed at curbing the spread of the new coronavirus, that is shuttering all non-essential businesses for two weeks in San Juan, Puerto Rico, on March 19, 2020.Carlos Giusti / AP file
/ Source: Associated Press

Puerto Rico’s governor signed a measure Tuesday suspending taxes on gasoline and diesel for 45 days amid the worldwide surge in petroleum prices.

The U.S. territory currently imposes a tax of 16 cents per gallon of gasoline and 4 cents per gallon of diesel.

Gov. 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 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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