He fuel price would suffer a rise again in October, constituting it as the third consecutive increase after months of frozen rates.
The differential between the contracts for the immediate month and two months of the Brent oil, the world benchmark, has reached its highest level of the year, in another clear indicator of a supply deficit fueled by prolonged voluntary cuts in the OPEC+.
Brent, which is used to set the price of more than three quarters of the oil traded in the world, has been rising since the end of June, when the main producer, Saudi Arabialed the production cuts.
The premium for the immediate-month Brent contract over the two-month contract rose to $2.45 a barrel on Thursday, the highest since October 2022. The November contract expires on Friday.
How would the new fuel prices be?
The Import Parity Prices determine that Super 95 gasoline should suffer an increase of 4.2%, while diesel oil should suffer an increase of 6.1%.
Thus, the public sale prices of fuel at service stations in Uruguay would be as follows: 77.54 pesos for gasoline, which means an increase of 3.15 pesos; and 59.39 pesos for diesel, which represents an increase of 3.40 pesos.
When reporting the increase in fuel price In September, the Minister of Industry, Energy and Mining (MIEM), Omar Paganiniexplained that “Ancap absorbs a good part of the increase.” However, in that letter he had anticipated that the maintenance stoppage of the La Teja refinery was planned this month, which also promises to be extended due to conflicts between the union and the state company.
The president of Ancap, Alejandro Stipanicic, who warned: “Unfortunately we can no longer contribute to the containment of international prices, to moderate increases.” The leader clarified that “in this the financial back of the Ancap that now we are not going to have it for a while.”
Source: Ambito
