Vehicle diesel rose to S / 1.98 despite being subsidized

On Thursday, March 10, Petroperú announced an increase in the price of the main oil-derived fuels. But this readjustment excepts B5 S-50 UV diesel (used for transportation) and bottled LPG, since both are subsidized by the Price Stabilization Fund (FEPC).

The next day, the state oil company issued a statement highlighting that the prices of fuels that are within the FEPC “remain unchanged.” Likewise, he warned carriers and users not to be victims of “any attempt at speculative maneuvers.”

And it is that vehicular diesel is the main fuel sold in Peru. In January of this year alone, it represented 62.41% of local consumption, this figure is well above gasoholes, which accounted for only 23.05% of national demand, according to Osinergmin (see infographic).

Hence its importance that it be within the Price Stabilization Fund. However, according to user reports he collected The Republic, In different points of metropolitan Lima, vehicular diesel rose between S/ 0.25 to S/ 1.98 during the last week. As is the case of the Etizza tap on Izaguirre Avenue in Los Olivos, where the gallon of fuel went from S/ 15.08 to S/ 17.06. The situation is repeated in the Repsol of av. University No. 2901, in San Martín de Porres, where the variation is S/ 0.80 and it is located at S/ 17.79. For its part, in some service stations in Breña, the increase is S/ 0.25.

This happens, according to the former Vice Minister of Energy Pedro Gamio, because the FEPC is not fulfilling its proposed objective and the subsidy “remains in the chain of intermediaries”, which causes “the State to lose many resources”, without helping the user. final.

“It is a revolving fund, but there is nothing that can be recovered because the trend is to go up”, so it ends up becoming a State debt to the fiscal box, he pointed out.

In addition, he added that price speculation will always be an actor present in the energy market, “it is a trend that has to be faced, ensuring that competition occurs at all times,” he commented.

For his part, former Deputy Minister of Energy Luis Espinosa indicated that the rise in these fuels is an effect of the free market, where prices are governed by demand.

“Subsidized fuels can also go up because the agents want to raise it, if they notice that there is a shortage”, precise.

In addition, he mentioned that in order to avoid excessive increases in service stations (faucets), the State must report the average margins that faucets have to raise prices. “In diesel, the distributors’ margin on the Petroperú price is 11% and in gasoline it is between 6% and 9%,” he detailed.

Stabilization Fund

The maximum and minimum price band for the stabilization fund is set every two months, according to Espinoza.

The last update was made on January 26, through a resolution published in El Peruano.

“For diesel, the upper limit is S/ 10.85 and the lower limit is S/ 10.75 (…). In LPG, the upper limit is S/ 3.11 and the lower limit is S/ 3.05”. Indian.

Thus, the FEPC compensates the fuel trading companies for the excess over the upper limit of prices.

Statement from Petroperu

Petroperú emphasized that the wholesale price of diesel for vehicle use and bottled LPG has not been modified in the lists published on Thursday.

Data

FEPC. It is an intangible fund to prevent the high volatility of the prices of crude oil and its derivatives from reaching the end user.

Reason. Petroperú explained that the rise in other fuels is due to the conflict in Ukraine.