Fuel Increase: They announced an average 7.5% increase in gasoline and diesel

The fuel prices have risen again Starting at 0:00 this Sunday. According to the oil company, gasoline and diesel have suffered a average increase on the whole national territory of 7.5%which was adopted on the basis of the evolution of the variables that influence the formation of the prices of these products.

Ascending will have a greater impact on gasoline, with an average of 8.5%, between super and premium. In diesel, meanwhile, it will have an average of 6% between grade 2 and grade 3.

This responds to the longer time that has elapsed since the last gasoline price adjustment, recorded on 9 May, and to the 19% increase in bioethanol over the period.

Of the total increase in gasoline, according to information provided by the oil company which controls over 55% of the retail fuel market, about two points correspond to the compensation for the increase in the price of ethanol, while the devaluation accumulated by the last gasoline adjustment is 16%.

For its part, biodiesel has increased its price by 6.7% since the last diesel increase made on June 16, and the accumulated devaluation is 10.5% since that date.

Due to the behavior of the different variables analyzed by the sector in the sector a new update of the prices at the pump was plannedtherefore it is to be excluded that in the next few hours the rest of the companies will also correct upwards the values ​​of petrol and diesel.

“After this adjustment, we will continue to monitor the evolution of the variables that influence the formation of prices, always taking into account the particularities of the country’s macroeconomic context and the international situation”, stated the company in a brief statement.

In the same sense, he stressed that the oil company will continue “to make the greatest production and logistical efforts to support supply in the domestic market in a context of sustained historical demand records”.

In addition to the increase in pump prices, YPF has decided to provide financial aid to its network of service stations which is equivalent, on average, to around 2 points of the total increase in petrol and diesel.

In the in the last 12 months the accumulated price adjustment of the brand’s petrol is 32% and that of diesel is 51%or an average increase of 41.7%.

On the other hand, the rest of the variables that affect the local economy vary more significantly, among which the trend in the Consumer Price Index, which grew by 71% in July, stands out; the exchange rate 33.5% in August, biodiesel 114.1%, cane bioethanol 44.8% or corn bioethanol 86.4%, again in August.

At the same time, in the fuel market, there remains a significant price difference with neighboring countries, which favors the sale of various products abroad and drives the consumption of vehicles with foreign patents.

This phenomenon is generating a significant increase in the demand for gasoline and diesel, which in the provinces of the North Coast and NOA exceeds the data of 2019 by 30%.

With information from Telam.

IS