It is within the framework of the Fair Prices program. They set increases of a maximum of 4% per month. And no more than 3.5% for the fourth month.
The oil companies joined the Fair Prices program. The companies agreed with the Ministry of Energy that they will apply increases with a cap of 4% during the next three months, and that the increase will be 3.5% during March,the fourth month of the agreement.
In this way, companies intend to seek their support for the government’s strategy to contain prices and lower inflation. The Fair Prices program is applied to mass consumption products in supermarkets. Companies and chains “car crash” limited increases after “suggestion of the Secretary of Domestic Trade, which depends on the Ministry of Economy”, they slipped.
The Minister of Economy, Sergio Massa, the Secretary of Commerce -Matías Tombolini- and the Secretary of Energy, Flavia Royón, held meetings with the heads of the main oil companies in recent days.
So far this year, gasoline increased by 60%, below inflation. “Premium” fuels rose 70%, also below the update of the consumer price index recorded so far. Diesel -of which there was a shortage, and a greater quantity of imports is needed- up 84% through November, more in line with inflation. And “premium” diesel was remarked at 112%, above the rest of the records that measure prices.
Oil companies increased their prices in November. At that time, they did so to update their margins to reflect increases in the costs of biofuels, with which they cut their products due to an obligation.
In parallel, the Ministry of Energy ordered a new increase for biodiesel: the producers of this fuel made from soybean oil will have staggered increases of 28.6% until next March. Energy has set a 10% increase retroactive to November 15, and has already set four 4% monthly increases between December and March.
“The ton of biodiesel, which at the beginning of the month was set at $220,000, has already been increased to $242,000 and will go to 283,106 as of next March 1. With the price path defined, biodiesel will accumulate an increase of 85.46% during 2022: it cost $135,700 a ton in January and will end in December at $251,680,” an oil company added.
The measure also assumes that tax updates (the tax on liquid fuels) will also be relegated while “Fair Prices” last.
The containment of fuel prices was a demand of mass consumption companies. Each correction in this sense implied higher logistics costs, due to the trips they have to make to deliver their products.
The liter of YPF super gasoline at service stations in the City of Buenos Aires is now located at $ 145,10, while premium gasoline climbed to a range close to $ 177. The super diesel will go to $155.90 and the premium to $212.40.
YPF service stations in Buenos Aires they have the lowest prices in the country, with the exception of Patagonia. In the rest of the oil companies, as well as in other places (from the suburbs to the interior), the values are higher.
In a year-on-year comparison, fuels rose less than French bread, oil, common wine, toilet soap or clothing, according to data handled by the industry.
During this year, fuels increased in February, March, May, October and November.
The values of the other oil companies (the brands Shell, Axion and Puma) surpass those of YPF, and also shoot up in the interior, with differences of up to 20% with respect to Buenos Aires.
The government understands that fuel prices in Argentina are cheaper than in neighboring countries.
The super gasoline will arrive in November to be dispatched at a dollar at the official exchange rate and less than 50 cents if the dollars are used in stock operations.
In the last 30 years, the liter of gasoline has been close to the dollar for most of the time. In Brazil, it is being sold below the dollar, as in Colombia. In the rest of South America, filling the tank is more expensive than in Argentina.
The international context The barrel of crude oil rose after the Russian invasion of Ukraine, when it exceeded US$ 100. But then it fell towards a zone of US$ 80. In response, the main producing countries (joined in OPEC +) decided to restrict the production, with the goal of reaching a price of US$100 again. They did it for a while, but now the price of Brent has fallen again and is located in an area of US$85.