In this context, he stated in a press release: “YPF will carry out an increase in pump prices of 9% on average for the country, starting on Wednesday, February 2 at 0, after the last increase in May 2021.”
The price of super gasoline was around 90 pesos before the increase announced in the Buenos Aires Metropolitan Area (AMBA) was applied, while it was 104 for premium and diesel was around one hundred.
Since the previous increase that had been registered on May 21, 2021, the peso devalued 11.35 percent against the dollar, 29.18 percent inflation was registered according to the BCRA projection, the price of the ethanol rose by 16.07 percent and that of biodiesel by 46.41, while the price of oil, in the Brent index, grew by 31, YPF sources indicated.
In addition, they argued that there was a strong recovery in demand, 10 percent in gas oil and 18 in gasoline, while ensuring that the gasoline market last December was “the highest in history.”
According to YPF, after this adjustment, it will continue “monitoring the evolution of the variables that affect price formation, taking into account the particularities of the macroeconomic context.”
He also assured that during 2021 “it significantly increased investments in line with its plan announced at the beginning of the year for a value of 2,700 million dollars, representing an increase of more than 70% compared to 2020 investments.”
“This level of investment allowed a strong growth in oil activity throughout the country and a significant recovery in production starting in the second half,” explained the state firm, which also assured that through this plan “it managed to stabilize production of crude oil and gas after 5 years of consecutive falls”, while “it continued with the deleveraging process started in 2020, reaching in the last quarter, the lowest level of debt recorded since 2015”.
Source: Ambito
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