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Wednesday, March 22, 2023

The president of Ancap admits that fuel prices are very expensive

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Stipanicic remarked, however, that he does not regret the current method that the company has when setting rates.

Alejandro StipanicicPresident of ancapadmitted that the prices of fuels in Uruguay They are expensive, although he stressed that he does not regret the method to set prices that the company has been implementing up to now and that fees and taxes must be taken into account when looking at fuel rates.

The Ancap leader remarked that he would love it if there was no oil refining monopoly although he admitted that releasing imports would not solve the underlying problem that prices currently have in Uruguay. For that, Stipanicic believes that it is necessary to reduce the fiscal cost and help the sector to be more competitive in distribution, according to an interview he gave to the weekly Búsqueda.

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In addition, Stipanicic explained that if imports had been released as some sectors claimed, the price of fuel would be 358 million dollars more expensive. According to the president, it is necessary to take care of oneself because Uruguay It is a small country that competes with international markets and is located in the middle of Argentina and Brazil which he defines as not very reliable partners.

On the other hand, the president of Ancap admitted that fuel prices are “very expensive” although he stated that he believes that the way to set rates, through the reference to the import parity price (PPI), is the most correct. Although he stressed that it is necessary to solve the taxes, rates and costs of distribution in order to make fuel rates more competitive.

According to Stipanicic, taxes and rates are found to a large extent due to the State’s flexibility in terms of its income and expenses and that it is an issue that has to do with fiscal engineering. On the other hand, the president of Ancap added that the margins of distributors and service stations must also be taken into account.

Source: Ambito

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