Energy inflation in Latin America and the Caribbean reached 8.03% in June 2026, its highest level of the year and well above overall inflation (4.49%). The increase was driven mainly by geopolitical tensions in the Middle East, which raised import, refining, and transport costs and pushed gasoline prices to their highest average of the first half of 2026.
Gasoline and diesel prices remained elevated and did not return to February levels, influenced by operational costs, taxes, subsidies, regulatory rigidities, and inventory dynamics. Even as international crude prices moderated, fuel prices continued to exert upward pressure.
As a result, liquid fuels became the main driver of energy inflation in the region, affecting households, transport, and productive activity.
