Tax & Spend

Chile Hikes Fuel Prices, Stoking Panic Buying and Inflation

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By Carolina Gonzalez and Matthew Malinowski

March 24, 2026 at 1:46 AM UTC

Updated on

March 24, 2026 at 2:20 PM UTC

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Chile’s government will hike fuel prices by as much as 54% on Thursday, stoking expectations for a steep rebound in inflation and triggering a wave of panic buying at gasoline stations across the country.