Economy Minister Sergio Massa set the ceiling after the companies described the 4% agreed as insufficient.
Hours after the announcement made by the country’s main oil companies, the Minister of Economy, Sergio Massacrossed the companies this Friday for the 7% increase in fuels scheduled for this weekend throughout the country and set a ceiling of 4.5%.
The Secretary of Energy and the oil companies had agreed in principle to an increase in the 4% for mid-June, but the companies retracted and warned that they would increase 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.
However, official sources confirmed that “the economy minister rejected the 7% increase to the oil companies and set a ceiling of 4.5%”, due to breaching the price agreement – within the framework of the program Fair Prices– With the fuel sector that was renewed in April for a period of four months, until August 15.
The position that the oil companies will take is awaited after the minister’s warning that they are also demanding a tax reduction as a relief measure for the sector, including a 30% reduction in the Tax on Liquid Fuels (ICL) that is applied to the sale of gasoline and diesel, which would affect the tariff schedule and the profit margin.
On their social networks, YPF announced that it is in line with the official request: “As of 00:00 on Saturday, June 17, fuel prices will increase 11 pesos per liter country average, which represents an average 4.5%“. “This adjustment helps to compensate for the variation of the exchange rate official, the differences in the logistics costs and operation, the narrowing of the gap between fuel grades and the increase in biofuel prices,” they detail.
Source: Ambito
