Fuel prices rise to S/ 1.76 per gallon

The wholesale prices of the main fuels of Petroperu and Repsol rose by up to 13%. This rise is due to the global crisis in the supply of oil and its derivative products as a result of the war between Russia and Ukraineaccording to the state oil company.

To detail, the wholesale price (without considering taxes) of a gallon of gasohol of 97 rose S/ 1.49 from S/ 12.09 to S/ 13.58; gasohol 95 rose S/ 1.45 and reached S/ 13.58, while gasohol 90 reached S/ 13.09 and gasohol 84 increased by 13%, to S/ 12.76.

For its part, the gallon of B5 S-50 diesel grew by S/ 1.76 (13%) and reached S/ 15.26, while the kilogram of bulk LPG rose to S/ 3.62.

While diesel B5 S-50 UV and bottled LPG remained at S/11.54 and S/3.18, respectively. These do not show variation because they are subsidized by the Fuel Price Stabilization Fund (FEPC).

About, Gustavo Navarroformer director general of Hydrocarbons, pointed out that the rise reported by the oil companies was an “absolutely predictable action” because last Monday Osinergmin published the reference prices that already showed the impact of international prices in the local area.

“Petroperú, Repsol and the rest of the importing companies are responding to the escalation of the price in the market”, he indicated.

As for the time it will take for wholesale prices to move to the taps, he estimated that “usually it is two days”; that is, this weekend. However, he highlighted that the final values ​​will not be the same because the freight cost, the IGV and the associated expenses are added to the operation of service stations.

Thus, from the Peruvian Organization of Consumers and Users (Opecu), calculate that -including taxes- the gallon of gasohol of 97 will be worth S/ 18.64; the gasohol of 90 in S/ 18.05 and the one of 84 in S/ 17.70. Regarding diesel B5 S-50 UV and bottled LPG, these will remain at S/ 15.38 and S/ 3.75, respectively.

It can get worse?

The former president of Perupetro, Aurelio Ochoa adds more details after the rise: international speculation, which abruptly moves the value of the WTI (see infographic) and the fear of supply cuts, considering that Russia -the third largest producer in the world- supplies a large part of Europe; Added to the blockades scheduled for Moscow by the United Kingdom and the United States, and the prompt readjustment of interest rates in the latter due to inflation that reached 7.9%, which would translate into a rebound in the dollar. Therefore, a vicious circle is created that compromises the entire value chain of production and consumption activities, especially in countries that import.

Along these lines, he recalled that Peru imports 200,000 barrels of oil per day, and even the refinery of Talarathe scenario in which we are harmed by the constant rise will continue despite not buying a single barrel from Russia. “Everything is due to not learning the lesson of 2008, when WTI reached US$147. There has been no investment in the transformation to natural gas so as not to subject ourselves to these external geopolitical problems,” he noted.

Fears of the aeronautical sector

The aeronautical sector -composed by IATA, Aetai, APEA AND LAP- warned that with the stoppage of operations in La Pampilla they run the risk of a possible shortage, for which they have a provisional stock of fuel until March 17.

They asked the authorities to “take pertinent actions” so as not to harm the air flow, tourism and local commerce in the reactivation.