During the extra long weekend for Easter and Malvinas, gasoline will increase up to 5% and a liter of super will cost $834 in the City of Buenos Aires. The sales at the pump they fell up to a 7.3% year-on-year in February.
He adjustment corresponds to the third stage of updating the taxes on liquid fuel (ICL) and carbon dioxide (IDC) arranged by him government last February.
The imminent rise generated lines over the weekend in some service stationswhere vehicle drivers went to buy fuel.
The scene has been repeating itself in recent months before the sharp increase in the cost to fill the gasoline tankespecially after the 118% devaluation in December and the “price release” start up.
Increase in gasoline: what will the price be in April
Super gasoline had a price this Sunday of $800 and with the new setting from tomorrow accumulates an increase of 106% in less than four months since the new management took office on December 13, when its cost was $404.
The increase confirmed by official sources and the private sector would bring the price of premium gasoline at $1,029 and diesel at $879.
The update of the fuel tax puts pressure on the price of gasoline
The tax on Fuels was created by law in 1998 and during the administration of Mauricio Macri, it was updated on a quarterly basis.adjusted for official inflation, although in 2019 it was postponed.
Since July 2021 it was frozen under the management of Alberto Fernández, until Javier Milei’s management updated it again last March.
Although Milei had proposed carrying out a shock plan without tax increases, The Government decided to “regularize” the situation in gasoline to increase revenue and thus compensate for the blockage of its tax reform provided for in the Omnibus Law.
With these changes, it is estimated that The Executive could raise 0.4% of GDP for the Nation, about $760,000 million.
Through decree 107/2024, The Government established a schedule to reverse the freeze on said taxes, with adjustments planned for March 1, April 1 and May 1, 2024, inclusive.
Besides, Oil companies could add a 2% increase corresponding to the slide of the official dollaralthough they also look closely at the market fuels.
Gasoline sales fall due to rising prices
Due to the crisis and the rise in prices, the Gasoline sales fell 7.3% year-on-year in February at service stations, according to the Surtidores site.
The drop It was especially felt in premium products, which in the case of gasoline was almost 23% and in diesel, 8.25%.
Is about the steepest decline since 2019despite the fact that the vehicle fleet was much smaller then.
Source: Ambito
