The Government decreed phased increases in fuel taxes by the end of 2024, seeking to apply the postponed updates to contain inflation. This will result in a progressive increase in gasoline prices.
The Government updated taxes to the fuels for November and December 2024. He did it through the Decree 973/2024 published this Friday in the Official Gazette.
This decree then established new increases in taxes on certain fuels, particularly for gasoline and diesel. It highlights that the increases will be applied gradually in two stages: one in November and another in December 2024. These taxes are already set in pesos and are updated every three months based on inflation, measured by the Consumer Price Index. (IPC) published by INDEC.
What changes from November?
For the period from November 1 to November 30, 2024, specific increases are determined for taxes on:
- Unleaded gasoline (up to and above 92 octane) and virgin gasoline: An increase of $12.21 in the liquid fuel tax and $0.75 in the carbon dioxide tax will be applied.
- Diesel: there will be an increase of $9.53 in the tax on liquid fuels, in addition to a special increase of $5.16 if it is for consumption in certain provinces in the south of Argentina, and an increase of $1.08 in the tax on carbon dioxide. carbon.
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What will happen in December?
As of December 1, 2024, the increases that were not applied earlier in the year will be added, corresponding to the first and second quarters of 2024. Thus, from December, unleaded gasoline, virgin gasoline and diesel will have another increase.
The official text recalls that during the year, the Government postponed the increases in these taxes to prevent the price of fuel from rising suddenly in a context of high inflation. However, with this decree, the increases will begin to be applied in November and will be completed in December.
Source: Ambito
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