Shell reported that as of this Wednesday the price of its fuels will have an increase average of 3.8%. The increase, part of an agreement between the oil companies and the government, was announced a few hours after learning about February inflation, which rose by 6.6%, with a year-on-year change that it reached 102.5%.
In this way, continue with the trail of increases in the petrol quantities defined between the Ministry of Energy and companies in the sector. While the rest of the oil companies haven’t announced it yet, once one company raises its prices, the others tend to fold, so rebrands into other companies are expected.
After this increase expected in March, the Government and businesses will sit down again to outline the rest of the year.
Regard third fuel increase of the yearafter those implemented in January and February, when they were confirmed even shortly after the knowledge of the inflation data, and the fourth which is applied as part of the agreement with the Government.
In 2022, meanwhile, the oil companies had ordered seven increases.
The new petrol prices in Shell
Starting this Wednesday, petrol prices will change at Shell service stations located within the city of Buenos Aires.
The new values will be $169.07 for premium gas$205.33 for premium, $189.05 for regular diesel, and $245.41 for premium diesel.
The oil companies joined the Fair Prices program last November, when they agreed with the Energy Ministry to apply hikes capped at 4% during the first three months, with the latest increase in March.
In this way, companies have tried to give their support to the Government’s strategy of containing prices and reducing inflation.
The Fair Prices program was applied to consumer products in supermarkets. Companies and chains “self-imposed” limited increases after “the proposal of the Secretary of Internal Commerce, which depends on the Ministry of the Economy”, slipped at that time.
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Source: Clarin
