Be prepared to tighten those belts as gasoline prices are set to increase by 0.6 percent between today and tomorrow, fitting with the 0.5 percent inflation set for April. However, if you run on diesel you’re in luck as prices are set to fall by 1.8 percent over the next few weeks.

These changes stem from an agreement signed between the Government and oil companies at the beginning of the year to avoid fuel surges during the first quarter. According to President of the Chamber of Fuel Entrepreneurs Raúl Castellanos, the increase is in response to the quarterly tariff reviews made by each company, the price prediction of oil and the exchange rate.

“I would expect all the companies to comply with the agreement we have signed, and in the next few days this will be reflected with the suppliers,” said Energy Minister Juan José Aranguren.

This marks the second hike of petrol prices in 2017, the first being in January. During last year, petrol prices saw a total increase of 31 percent.