The state majority oil company joins the increase ordered by Raizen, Shell’s licensee, and Trafigura, owner of Puma, making the decision to raise the value of fuels.
The state majority oil company YPF the price of fuels will increase 12.5% starting at midnight this Friday. The increase comes hours after Raizen, licensee of Shell, and Trafigura, owner of Cougar, take the decision to raise the value of fuels.
This was announced tonight by the Minister of Economy, Sergio Massa, who provided details about the agreements with the oil companies.
In an agreement with all the oil companies and the Ministry of Economy, gasoline prices will be frozen until October 31, as is the exchange rate, Massa said.
It is by an agreement between the industry and the Government. They also reported that there will be tax benefits that can be taken away if the companies violate the agreement. For these cases, the Ministry of Energy will activate a complaint system.
The head of the Palacio de Hacienda expressed that “this was an agreement between the producers, refiners, the Secretary of Energy, Customs and the AFIP and implies that the 12.5% increase in all service stations will be the last until 31 October and we entered a path in which there will be no more increases in fuel, as a result of a decision in which the impact of the devaluation ends up being borne by the consumer, partly by companies and partly by the State, which is going to resign part of the resources paid by the companies”.
Massa added that “the oil and gas industry in Argentina is one of the great tractors that we have in the country, part of the drop in activity that we had due to the drought, is offset by the notable increase in the gas industry and oil.”
Source: Ambito
