Oil companies on Wednesday increased the value of fuels in Argentina around 27% within the framework of the price liberalization policy of the president’s government Javier Milei, ultra-liberal profile.
The increases were arranged by Axion, Shell and the Argentine state-owned YPF, among other companies, which determined that hours before the increases were finalized, queues of cars formed at gas stations in the capital.
On average, the new prices in Buenos Aires went to 702 pesos (0.69 US cents) for super gasoline and 868 pesos (0.86 US cents) for premium gasoline.
The increases are in addition to those that occurred before Milei came to power on December 10 — of more than fifteen%— and after that date, after the devaluation of the peso, between 35% and Four. Five%.
The increases occur in a context of rampant inflation and the measure would further heat up prices due to its impact on costs such as heavy freight transportation.
Economic analysts calculate that December inflation was between twenty% and 30% and that 2023 ended with a price increase of more than 200%. Official data will be released next week.
Authorities from the Chamber of Fuel Entrepreneurs affirmed that the government aims to raise the price of fuel “at import parity”that is, to its values at an international level.
Before assuming the position of Secretary of Energy, Eduardo Rodríguez Chirillo had told the press that Milei’s team of advisors worked “in a comprehensive solution that allows a transition to a free market” already a fluctuation without the “indirect control”that the authorities on market prices traditionally exercised through YPF.
Source: Gestion
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