2023-08-18 02:00:00
The state oil company YPF arranged a 12.5% increase to match recent increases in Shell, AXION and Puma. In this context, the Minister of Economy, Sergio Massaprovided details regarding a agreement with the oil companies for the purposes of cFreeze the values until next October 31.
“We reached an agreement that implies that the 12.5% increase will be the last until October 31. There will be no more fuel increases“, highlighted the candidate for president for Unión por la Patria, in a statement together with the main representatives of refineries.
“I am grateful to YPF for making the decision to wait for a general agreement from the industry and refiners to coordinate the increase,” said Massa, in an elevation shot for the rest of the oil companies, that the On August 15, just following the price agreement had expired, gasoline was raised unilaterally by 12.5%.
Massa also appreciated that the state oil company “feels part of a public policy to take care of people’s pockets.”
After the agreement between all the oil companies and the Ministry of Economy, the prices of gasoline will be frozen until October 31just like the official exchange rate, Massa said.
“The decision to take care of people’s pockets has a first impact, which is the imposition of the IMF, within the framework of the program that Argentina has in force with the Fund, of a 22.5% currency devaluation,” explained the head of the Palace of Finance.
“Today, from a work between producers, refiners, the Ministry of Energy, Customs and the Ministry of CommerceWe have made progress on an agreement. It implies that the increase will be the last until October 31there will be no more raises because there will be no more increases in the exchange rate”, pointed out the government official.
“A part of the increase is assumed by consumers, another by companies in the sector and another by the State, which resigns taxes to guarantee a path among all. We allocate fiscal resources and the companies utilities to take care of people’s pockets,” he explained. Sergio Massa.
The price of fuels following the 12.5% increase
Depending on the adjustments made, in the city of Buenos Aires super gasoline would increase its price from $213.80 to $240.5 per liter and premium gasoline would increase from $274.4 to $308.7. Likewise, common diesel will jump from $229.7 to $258.4 and Euro diesel from $313.5 to $352.6, according to the percentages reported by the company.
They also reported that there will be tax benefits that can be removed if the companies violate the agreement, for these cases, the Ministry of Energy will activate a complaint system.
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After Monday’s devaluation of 22%, Sergio Massa indicated that a part of the impact of the devaluation is assumed by the consumer, a part by the companies and a part by the State resigning part of the resources it collects in taxes.
“Resignation of taxes, resignation of profits and the only current increase is this with which YPF will be balanced with the rest of the companies,” said the minister.
After the expiration of the agreement Fair Fuel Prices on August 15, and the devaluation of 22% on Monday post Pasothe oil companies Raizen (Shell) and Puma increased on Tuesday, followed by Axion and now finally YPF completed the table.
It is by an agreement between the industry and the Government. They also reported that there will be tax benefits that can be taken away if companies violate the agreement.
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For these cases, the Ministry of Energy will activate a complaint system.
Thus, the government’s objective is give up taxes so that there is no more impact on people’s pockets.
At the meeting were Energy Secretary Flavia Royon; Paul Gonzalez and Paul Iuliano (YPF); Mark Bulgheroni; Adrian Vila (PLUSPETROL); Emilio Nadra and Rodrigo Fernandez Deleo (CGC); Francisco Villamil (Vista); Ricardo Markous (TECPETROL); James Pattern Coasts (PAMPA ENERGY); Gustavo Scarini (PCR).
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