He Ministry of Industry, Energy and Mining (MIEM) published the decision of Executive power to maintain fuel and supergas prices during April and throughout Uruguay, after having uploaded them during March.
The statement establishes that Super 95 gasoline will continue at 76.54 pesos as the maximum price for sale to the public, despite the fact that the evolution of the Import Parity Price (PPI) Last month, it indicated an increase of 2 pesos per liter.
In the case of supergas, the public price will continue at 80.75 pesos per kilo, below the import parity. Meanwhile, for the 200,000 households that receive the 50% subsidy on the price of the bottle, the 13 kilogram refill continues at $525.
According to Miem, the decision is ratified in “the policy of the current government administration to attend to the international reference, attenuating fluctuations for the final consumer and the productive sector.”
The exchange rate delay, a help to the price of fuel?
As is known, the reference price of Ancap for fuels in Uruguay is he barrel of Brent oilso all eyes were on that market that, during the last month, showed some ups and downs but, mostly, an upward trend, driven by conflicts at the international level, mainly in Russia and Ukraine.
Faced with this international scenario, it could have been expected that in Uruguay there would be a consistent increase in public fuel prices, in parallel with the increase in the price of fuel. Petroleum which accumulates an increase of 2.1% in the month. However, there is another factor to take into account: the price of the dollar in the local exchange market.
The deepening of exchange delay and the fall of the US currency, which, in March, has accumulated a decline of 3.83%; It could have contributed to the fact that the impact of international increases is not reflected in an increase in prices this April. This is because, when converting prices to pesos, the figures differ by the exchange rate. That is, at the beginning of March, one dollar was equivalent to 38.92 pesos, while today it is equal to 37.55 pesos.
Source: Ambito
