2024-02-01 14:43:27
The first day of February It began with increases in fuel that has already impacted the entire country. This comes hand in hand with a partial update of the taxes on Liquid Fuel (ICL) and the Carbon Dioxide Tax (IDC), which has remained frozen since the last quarter of 2021. At the same time, biofuels increaseda factor that adds pressure to prices.
It is anticipated that These taxes are updated quarterly and transferred directly at the price at the pump, following the Nation’s Consumer Price Index (CPI) of the previous month. From the Secretary of Energy confirmed to Power On that in the early morning of today five quarters were automatically updatedwhich correspond to the fourth of 2021 and the four of 2022.
To a lesser or greater extent, There were increases in fuel prices throughout the country. In the region, it is worth remembering that a tax discount known as Patagonian Zone o Pichetto Law, which is 50% in the tax burden on gasoline and 25% on diesel, so the application of these taxes has a minor impact.
The tax arrears were 377% due to 27 months of freezing, according to the consulting firm Economía y Energía. On average, throughout the country, if these taxes are fully applied, There would be increases of 16% in the case of gasoline, and 8.5% for diesel.
This Thursday, in the region it was recorded at YPF stations that gasoline increased 2.17% and diesel 5.20%. In the City of Buenos Aires, YPF The prices of gasoline and diesel increased by an average of 6.4% today, Thursday. From these percentages, it is reflected that It wasn’t just taxes that influencedeven more so if you take into account the discount applied in the region, mentioned above.
These taxes were used as a tool to avoid new increases that impact the price of the suppliers. When they are updated, the oil companies transfer it right to the value of the liter of gasoline and diesel, to which They add another percentage increase due to the other indices that influence prices.
Now, Its update pursues the objective of increasing revenue for the State coffers.. In today’s decree, it was determined to extend the update of part of the taxes that correspond to the four quarters of 2023, following a schedule of increases published in Decree 107/24 in the Official Gazette.
The update agenda was defined as follows: the first and second quarters of 2023 will be applied from March 1st 2024 and the third quarter from April 1st 2024. It is worth remembering that in March there should be a new update corresponding to the first quarter of 2024.
Another point that influences the price at the pump is the increase in bioethanol and biodiesel, that are mixed in gasoline and diesel respectively. Today an increase in both biofuels was made official, through decree 5 and 6 published in the Official Gazette. This increase is recorded by the oil companies, which end up transferring it to the values perceived by users.
Added to taxes and biofuel, from refineries seeks to achieve import parityso the increases that are recorded can also go hand in hand with an increase in the product itself, since they are still 25% below following 2023 with periods of freezing and price controls.
1706799190
#Increases #gasoline #diesel #Thursday #due
