Senate approves moratorium on ‘La Crudita’ gasoline tax
By The Star Staff
The Puerto Rico Senate approved on Tuesday Joint Resolution 240, which would temporarily suspend the taxes on gasoline and diesel fuel to relieve the pockets of consumers following hikes in oil prices caused by Russia’s invasion of Ukraine.
The legislation, which is opposed by the Financial Oversight and Management Board, is slated to go to the House of Representatives.
Penned by Senate President José Luis Dalmau Santiago, the resolution orders the Treasury Department to temporarily halt the tax on gasoline and diesel established in the Internal Revenue Code for a New Puerto Rico, as an alternative for addressing the high gasoline prices endured by islanders.
“The global emergency we are facing merits the adoption of this measure to temporarily suspend this tax in order to maintain control over the price of gasoline,” Dalmau Santiago said. “The decrease in income from the suspended taxes may be compensated for with resources from the surplus of $800 million in income that has been anticipated for the current fiscal year.”
According to GlobalPetrolPrices.com, the average price of gas for Puerto Rico from Dec. 6, 2021 to March 14 was $1.01 per liter with a minimum of 91 cents per liter on Dec. 20 and a maximum of $1.24 per liter on March 7.