LatinNews Daily - 16 June 2026

*Chile’s Finance Minister Jorge Quiroz has announced that he expects the price of diesel to drop by around Cl$100 (US$0.11) per litre and the price of gasoline to drop by a “similar amount” given recent signs that the war in Iran may be reaching an end. This comes as US President Donald Trump declared on social media on 14 June that the deal with Iran was “complete” and the Strait of Hormuz would be reopening, stating: “Let the oil flow”. Speaking to reporters, Quiroz stated that this would lead to a drop in international oil prices, meaning they would drop in Chile too. The decision by the government of President José Antonio Kast not to shield consumers from the increase in fuel prices due to the war in Iran sparked protests in Chile and led to a sharp drop in the new president’s approval rating.