YPF implemented an average 4% increase in gasoline and diesel

In accordance with a contract with the government, the state-owned oil company raised its pricing this past Sunday in response to the Thursday rise implemented by other businesses.

As part of a deal with the Ministry of Economy, YPF increased fuel prices on Thursday in line with other businesses in the industry. As stated, the increase for gasoline and diesel is on average 4%.

This made the current reference prices at the YPF stations in the City of Buenos Aires for super gasoline, premium gasoline, diesel, and premium diesel to be 150.90 pesos for super gasoline, 185.70 pesos for premium gasoline, 162.10 pesos for diesel, and 222 pesos for diesel.

The Shell and Axion service stations had carried out the advance on the first day of this month, and it was anticipated that more businesses like YPF and Puma will join in the coming days.

The price of regular gasoline has increased by 60% so far this year. It was 70% in the case of the premium. The increases in diesel are greater than 100%. It is dependent on imports for this fuel. Its price rose more quickly than the others because it had been missing for some months.

The oil firms agreed to 3.8% increases for March, plus three 4% increases each in December, January, and February. The update, which was reached in agreement with Sergio Massa, head of the economic portfolio, suggests that these businesses will participate in the “Fair Prices” initiative, which aims to control inflation in the upcoming months.

The government postponed gasoline tax rises and created a chart detailing the increases that biofuel producers can apply to them in order to encourage the oil firms to participate. Bio “cuts” must be incorporated by refiners into their finished goods.

Was it one’s adherence to “Fair Prices,” as mass consumption companies have demanded. They stated that if logistics expenses, which are strongly related to the price of petrol at service stations, kept rising, it would be very difficult for them to freeze the price of their products.

YPF was in charge of initiating the recomposition in November, with rises of 5% for gasoline and 7% for diesel, on average, across the nation.

Estimated devaluation from the third of that month to the present is 6.0%, which is 2 percentage points greater than the gasoline adjustment to be implemented in December.

The cumulative price adjustment for gasoline over the past year was roughly 58%, while the change for diesel was 80%, or an average of 71%.

The price of fuel continues to be significantly different from neighboring nations at the same time. The Argentine pump amounts are still declining in terms of dollars.

They cross the border from Paraguay and Uruguay to buy local petrol since it is less expensive there than in their home countries. For instance, this continues to result in a large rise in the demand for gasoline and diesel in northern Argentine provinces, which in the provinces of Misiones and Formosa is 24% higher than the figures for 2019.

By Editor

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