In this way, andThe value will increase from the $220,000 a ton set last September to $242,000. Then, from December, the price will increase, at a rate of 4% per month, until it reaches $283,107 next March.
The cap on the biodiesel increase was one of the demands of the oil companies to access the Fair Prices program, which provides for a 4% monthly increase ceiling for fuels in December, January and February, and 3.8% in March.
“The fuel issue is a central issue in Argentine economic life. Not only for people’s day-to-day activities, but also for the production and agricultural sectors,” remarked the Minister of Economy, Sergio Massa, when announcing the measure last Monday.
In addition to the increase in biodiesel, which will not exceed the fuel ceiling, the companies obtained, in return, the postponement from January to after March of the payment of the Tax on Liquid Fuels (ICL), as well as guarantees regarding imports of products linked to the sector and access to foreign currency, especially for the supply of lubricants.
Likewise, a temporary reduction in taxes on fuel imports is foreseen, in order to “guarantee supply for the agricultural sectors, especially during the most important months of January and February,” said Massa.
In addition to fuel, the Fair Prices program sets the values of more than 1,800 essential goods for a period until the end of February, through voluntary agreements with more than 100 mass consumption companies, which also pledged not to increase more than 4% monthly the rest of your product portfolio.
The objective of these agreements made by the Palacio de Hacienda is to attack inflationary inertia, which currently stands at around 6% and 7% per month.
Source: Ambito
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