Petroperú rejects claims of cost overruns in its prices

The company Petroperú, through a statement, has indicated that the statements regarding the fact that they are applying a profit margin of US$ 40 per barrel to the price of fuels are not accurate, since this analysis would be ignoring information such as the commercial discount that the company grants to its clients.

In addition, they specify that said commercial discount is a factor that has not been incorporated into the Methodology for Calculating Parity Prices of the Supervisory Agency for Investment in Energy and Mining (Osinergmin).

If this were taken into account in the comparison, the differences between the list price of gasoholes of 97, 95 and 90—which are not included in the Fuel Price Stabilization Fund (FEPC)—of Petroperú with respect to the Parity Price of OSINERGMIN, would be reduced considerably, they assure.

Likewise, the company points out that there are methodological differences with the calculations made by Osinergminrelated to the international marker used, quality adjustments, determination of international freight, greater demurrage due to port closures due to abnormal waves, among other factors that explain the gap between both calculations.

For this reason, “Osinergmin’s prices are theoretical calculations that do not have to coincide with the realization price or actual import price, as they are referential,” the statement said.

The state company reiterates that it maintains list prices in line with the FEPC Price Band for diesel for vehicle use, among other products included in this mechanism.

In this sense, “it is suggested to the various analysts who comment on these issues, to carry out the separate analysis of the products included in the FEPC (diesel for vehicle use, gasoline and Gasohol 84, Gasoline 90) and those not included in the FEPC (gasoholes 97, 95 and 90), in order to avoid misinforming public opinion”.

With respect to prices to the final consumer, Petroperú affirms that it has no control given that it does not have its own Service Stations, Osinergmin provides, through its Facilito application, information on the sale prices of fuels in service stations.

Finally, the company recalls that there are several agents in the market that participate in the fuel supply chain in Peru, with their own commercial policies and strategies used to compete in the market. Likewise, Petroperú does not reach the final consumer as it does not have its own taps, for which it reiterates that it is not true that “the final prices to the public end up being higher due to the margin that Petroperú adds.”