The Ministry of Energy has raised the minimum purchase price for biodiesel and bioethanol, two essential components that impact the final price.
The Government set new prices for the biodiesel and bioethanol, based on corn and sugar cane, which must be mixed with fuel for domestic consumption, according to two resolutions published in the Official Gazette.
One of the publications of the Energy Secretariat, dependent on the Ministry of Economy, rose to $984,865 per ton (about $1,024.3) the minimum purchase price of biodiesel for combination with diesel, from the previous $965,554.
Another official resolution reported that the value of the sugar cane based bioethanol The price for corn-based bioethanol was set at 657.416 pesos per liter (about 0.68 dollars), up from the previous 644.525 pesos per liter, and said the price for corn-based bioethanol was changed to 602.545 pesos per liter (about 0.63 dollars), up from a previous value of 590.730 pesos.
The new amounts will apply “for operations to be carried out during the month of September 2024 and until the publication of a new price to replace it,” both publications confirmed. The resolutions of the Energy Secretariat will enter into “force as of the day of their publication.”
How the rise in biofuels affects consumers
The biofuels They are used for the mandatory 12% cut in gasoline and diesel, so increases the cost of production of fuels and impacts pump prices.
According to law 27.640, the biodiesel produced from soybean oil is cut into a 7.5% for each liter of diesel and the bioethanol The mandatory mixture that refineries have to make is 12%which is divided into 6.5% for the preparation based on cane and 6.5% for the product based on corn.
How much does a liter of super and premium cost in CABA in September?
On September 1st, the Gasoline and diesel prices increased by an average of 3% in the City of Buenos Aires. The prices in the YPF station network are as follows:
- Super Gasoline: $1059.
- Premium gasoline: $1309.
- Diesel: $1084.
- Diesel premium: $1334.
Source: Ambito
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