The fuel increased from this Monday
Starting at zero hours this Monday, fuels have registered an average increase of up to 11.5% at the main service stations throughout the country, so drivers will find new prices at the pumps.
YPF announced that since March 14 the price of its basic fuels has increased by 9.5% on average and that of premium category fuels by 11.5% on average, but as is often the case in these cases, this decision will also have an impact on other chains such as Shell, Axion and Puma.
According to what was reported by the state company, this adjustment responds to the evolution of the main variables that make up the retail price, especially the increase in international oil costs and demand levels higher than the pre-pandemic, which they require imports to complement the local supply.
In this sense, the firm pointed out that oil has suffered significant increases in recent weeks, reaching record levels (50% above the values at the beginning of February 2022).
In addition, he noted that the international price of fuels with which the local supply is complemented increased even above crude oil.
For this reason, YPF announced that it will continue to monitor the evolution of the variables that affect price formation, “taking into account the particularities of the macroeconomic context of the country and the international reality.”
The rest of the companies would also adjust their prices during the morning
The last increase announced by the company had been 9% and came into force at the beginning of last February, also in a context of sustained increase in global energy costs.
In March 2021, YPF had reported that during that year a staggered adjustment of 15% would be applied over three months to finance investments. The first increase of 7% average was applied on March 16 and then there was a second increase of 6% in April. The increases were differentiated: higher in the city of Buenos Aires and lower in the interior.
In recent weeks, international energy prices have skyrocketed as a result of the war unleashed by Vladimir Putin’s invasion of Ukraine and the sanctions imposed on Russia, one of the world’s leading oil and gas producers. The barrel of Brent oil —which is used as a reference for Argentina— touched USD 130 this week and this Wednesday its price closed close to USD 111.
“Although the increase is from YPF, the rest of the service stations will update their prices on the same line during the morning. It was something expected because the barrel of oil had an increase of 50 percent. It was unsustainable that with those values in Argentina we continued to have the cheapest price in the world, ”he said in dialogue with Infobae Gabriel Bornoroni, president of the Confederation of Hydrocarbons Trade Entities of the Argentine Republic (CECHA).
The highest representative of the chamber that brings together the owners of service stations stressed the importance of “having an energy policy that does not leave the country outside the world” and explained that “these increases never make sales fall.”
“We have been following it and it did not happen even in the worst moments. If we do not pay this cost at the pump, Doña Rosa pays it with taxes. Obviously, if we compare it with our salaries, we would like it not to increase any more, but our problem is inflation, not the value of gasoline,” she added.
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