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In July, wholesale fuel prices fell to 9.6%

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The wholesale prices of the main fuels have been reduced by up to S/2.54 per gallon so far in July of this year. This means a decline of up to 9.6% in just three weeks, according to data from Petroperu.

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The state oil company said yesterday in the third report this month that the decrease is the result of “general reductions in international prices”.

Thus, in July 97 gasoline led the drop and went from S/26.3971 on July 1 to S/23.8483 per gallon in the last week. Gasohol continues at 97, which fell S/2.41 (-9.33%) and stood at S/23.3933. Meanwhile, 95 gasoline fell by S/2.28 (-8.91%) to S/23.3258 and 95 gasohol fell by S/2.18 (-8.70%) to S /22.87. Finally, the gasohol of 90 decreased by S/1.82 (-7.87%) and reached S/21.3386.

On the other hand, gasohol and gasoline of 84 that are at S/16.4775 and S/ 16.4473 each, gasoline of 90 (S/18.6067) and diesel for vehicular use (S/15.93 ) did not register variation in this period. These fuels are within the Fuel Price Stabilization Fund (FEPC).

Transfer to faucets

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Gustavo Navarro, former director general of Hydrocarbons, told La República that generally the taps have a fuel inventory “for a couple of days”, so the transfer of the new Petroperú prices should be reflected in two days.

“The day after tomorrow (Saturday) the taps should be receiving the new stock. The weekend should be beginning to have new prices in the market”, he emphasized. In addition, he added that at the beginning of next week the transfer “should be more widespread.”

For his part, Luis Espinoza, former Vice Minister of Energy, pointed out that this process could take between one and two weeks. “When Petroperú goes down, the faucets take up to two weeks to go down. They argue that they have expensive stock and it takes between one and two weeks to liquidate it,” he said.

You still have to wait a few days to see the real fuel prices reflected at the taps. Photo: Rodrigo Talavera / The Republic

Meanwhile, Petroperú emphasized in a press release that, “as they do not have their own taps”, they have no control over prices retailers.

Downward trend

Texas Intermediate Oil (WTI), which serves as a reference in Peru, fell by around US$20 (-18.14%) per barrel, going from US$120.93 on June 13 to US$98, 99 at Thursday’s close.

According to Navarro, the downward trend of international crude oil will continue in the coming weeks, because the wholesale inventories of the countries of the northern hemisphere have already been supplied last month for their season of greatest demand for fuels, which at It is generally between the end of July and August.

“Now inventories are full and (demand) is starting to drop. Prices are going to continue to fall in the coming months, even,” he said.

Fall in reference prices

In the last six weeks, the reference prices of fuels that Osinergmin reports every Monday fell by up to 15.51%, with 84-octane gasohol being the one that accumulated the greatest reduction. However, its wholesale price has not changed. According to Navarro, this is because this and other fuels are currently within the FEPC. “In these cases, Petroperú decides when it transfers prices,” he said.

Normal supply of Turbo A-1

Petroperu reported that will be able to normally supply aviation fuel (Turbo A-1) to his clients.

He explained that he managed direct purchases from the companies Repsol and Valero Perú, which will allow having the necessary stock at the Jorge Chávez airport.

He also highlighted that the Talara refinery has a Turbo A-1 inventory of 118,000 barrels, of which 44,000 are already in transit to Callao, after the recent reopening of the Talara Liquid Loading Dock by Dicapi on Tuesday 19 July at 2:00 p.m.

Infographic – The Republic

Source: Larepublica

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