Gasoline prices: YPF analyzes advancing a change in prices at the pumps due to the drop in oil

At last night’s opening of Brent – the European reference value used in Argentina to set prices at local pumps -, the barrel fell 4.8% regarding Friday’s closing, decline that continued as the hours passed. At the closing of this note, it was trading at US$ 82,53.

It was hours after it was announced that Iran and the United States would sign a memorandum of understanding to end the war and reopen the Strait of Hormuz.

The signing is scheduled to occur on Friday in Geneva, Switzerlandalthough the details of this preliminary agreement are still unknown, which left the Iranian nuclear program for later, which will be discussed 60 days after the signing of the pact.

This Monday, Donald Trump stated on his Truth Social network, while addressing the G7 summit in France, that commercial ships “begin to leave, many loaded with oil, from the strait“, after the lifting of the blockade imposed by Iran on February 28, at the beginning of the war conflict.

In this context, YPF analyzes how it will continue with the price agreement it launched initially for 45 days on April 1 to stabilize the values ​​at the pumps, after the jump of oil above US$ 100 the barrel for the extension of the war. This “buffer in fuels” (buffer) It expired in mid-May, but was renewed until the end of Junefor another month and a half.

At that time, the CEO of YPF, Horacio Marinannounced that Oil increases would not be transferred to sales prices. “It will allow us to keep them stable. During this period, We will not pass on the impact of Brent variations to consumersleaving the rest of the variables that make up the price released,” he posted on X at that time.

Thus, as part of this private agreement between oil producing and refining companies, without government intervention, This temporary stabilization mechanism served to absorb abrupt fluctuations in international costs and avoid immediate transfers to the client.

Now, at YPF they believe that, if this global drop in oil prices continues, eventually they could get out of the buffer and with falling prices at the pumps. But, first, the current fuel values ​​will be maintained to recover the increases that were not applied during this time.

“Maybe this will help us get out of the situation faster. buffer already down. It will depend on how much the price is parked at. It’s not the same US$ 80 a US$ 90. We are monitoring it day by day. Prices will remain the same for a while longer, but perhaps for a shorter period“, they highlighted in YPF.

The rest of the oil companies are expected to align with YPF’s positiona reference in price formation due to its leadership in the market, with a position superior to 55%.

For years, Argentina was one of the countries with the cheapest gasoline in South America. But, in a short time, the situation was reversed and now was among the countries with the most expensive fuels in the region.

With subsidized gasoline and delayed prices, the liter cost around US$ 0.6 in January 2021according to the historical series prepared by the Confederation of Hydrocarbon Trade Entities (Characteristic) for monthly tracking.

Since the government of Javier Miley and the market was deregulated, there was an upward trend in evolution, in which the liter went from an equivalent of US$ 0.7 in December 2023 to US$ 1 in March 2025.

When the US and Israeli attacks on Iran began on February 28, The average price of gasoline rose to US$ 1.1, and a few weeks later it rose to US$ 1.4according to data from the international platform GlobalPetrolPriceshence accumulates an increase close to 25%.

For the Government, The local impact of the crisis in the Middle East is the only reason that could interrupt the slowdown in inflation which was achieved in May and June. Last month, the ‘transport’ category remained contained, with an increase of 2%due to the increases in gasoline that were suspended.

They received the renewal of the price stabilization agreement by YPF as good news, because it implies cushioning, even temporarily, logistics costs, in a context of rising international prices for a barrel of oil, which means relief in the midst of the rise in their operating costs.