“This adjustment helps to offset the variation in the official exchange rate, the differences in logistics and operating costs, the narrowing of the gap between fuel grades and the increase in biofuel prices,” said the state oil company.
The state oil company YPF announced tonight that starting at midnight on Saturday it will make a 4.5% adjustment to the price of its fuels in line with the request made by the Minister of Economy, Sergio Massa.
“As of 00:00 on Saturday, June 17, fuel prices will increase by 11 pesos per liter of the country average, which represents a 4.5% country average,” they announced on their social networks.
“This adjustment helps to offset the variation in the official exchange rate, the differences in logistics and operating costs, the narrowing of the gap between fuel grades and the increase in biofuel prices”they continued.
The Secretary of Energy and the oil companies had agreed in principle to an increase in the 4% for mid-Junebut the companies backed down and warned that they would increase by 7%.
“We are with the noose around our necks, the inflation and the delay in fuel prices makes it untenable to keep the stations open. We need a solution”, they demanded from cechathe confederation that brings together more than 4,800 outlets.
The news was not well received by the Minister of Economy, Sergio Massa, who tonight went out to meet the companies, rejected the 7% increase and ratified a ceiling of 4.5%.
Source: Ambito
