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The price of fuel skyrockets in Peru due to the war between Russia and Ukraine

As planned, Osinergmin presented this Monday, March 7, the reference prices of oil-derived fuels in Peru with a notable increase, due to the war between Russia and Ukraine, in addition to the economic siege by the United States and the European Union, which have degenerated into profound instability in the international energy market.

In Peru, Osinergmin presents the reference prices of fuels every Monday, based on an average of the international price of oil in the last two weeks (ten days, from Monday to Friday). The update from last Monday, February 28, only took into account the first day of the war, Thursday, February 24, in addition to Friday, the 25th.

Now, Osinergmin presents the reference prices corresponding to a full week of Russia’s invasion of Ukraine (in addition to the previous Thursday and Friday), and its consequent international escalation in the price of oil. This week, crude oil has broken the barrier of US$120 per barrel (it was around US$100 a few days ago, and before the pandemic no more than US$70), therefore, next Monday the 14th the reference prices should rise even more.

Thus, the reference price in Peru for Gasohol 97, which the previous Monday fell from S/ 10.73 to S/ 10.71, today is quoted at S/ 11.42 per gallon. And it’s just a sample button. The Gasohol 95 it went from S/ 10.54 to S/ 11.26; the gashol 90, from S/ 10.28 to S/ 11.01; and the Gasohol 84from S/ 9.80 to S/ 10.55.

As for the industrial ones, used mainly in boilers, ovens and burners, the Industrial Oil 6 evaluated by Osinergmin it marked S/ 8.45 per gallon, well above the S/ 8.07 of last week; while the Industrial Oil 500 it did the same by going from S/ 8.05 to S/ 8.45.

The Diesel B5 0 – 2500ppmone of the fuels with the best performance in the automotive fleet, went from S/ 11.45 to S/ 12.56, while Diesel B5 2500 – 5000ppm it rose slightly from S/ 10.27 to S/ 11.27. Finally, the reference price of the liquefied petroleum gas (LPG) It went from costing S/ 3.21 to S/ 3.45 per kilogram. It should be noted that LPG and Diesel B5 for vehicle use are products that are included within the scope of the Fuel Price Stabilization Fund (FEPEC).

The reference exchange rate of the dollar used this Monday, March 7 by Osinergmin is exactly the same as last week, S/ 3.76, so the dollar factor did not alter this week the price of oil derivatives at the local.

From this reference price, faucets throughout the country draw up their own price table, and compete in the free market among themselves. In our country, the two major suppliers are Repsol and Petroperú (the latter, in reality, is only dedicated to renting the name under the so-called “Petrored”). Therefore, this reference price is not the one that end users will necessarily find when supplying their vehicles.

Source: Larepublica


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