The country’s main fuel companies began May with a reduction in their prices. The first was YPF, which applied an average decrease of 4% in the value of gasoline and diesel throughout the country. As he could know TNnow other companies in the sector were added.
From Shell confirmed that they applied a Low “in line with the market”without giving precise figures, and said they will continue to observe the evolution of the context. Axion also replied the price cut, while Puma He still did not take a definitive decision.
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The price cut was driven by a combination of factors, such as Fall in international oil valuehe New exchange frame (which eliminated the devaluation administered and fixed), the Tax load and the value of biofuels.
In addition, the government decided postpone the rise in fuel tax Scheduled for this month, with the aim of avoiding additional pressures on inflation, which comes from two consecutive months on the rise.
In the city of Buenos Aires, prices in the YPF widers reflected the decline with force. According to the specialized site SUPSthe biggest descent was in the Gasoil Euro, which went from $ 1472 in April to $ 1354 in May, an 8%drop. There were also reductions in premium gasoline (5.97%), common diesel (2.98%) and super super (2%) gasoline.
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The Minister of Economy, Luis Caputopublicly celebrated the measure on social networks: “In this new Argentina, prices are not inflexible down“Although he argued that YPF’s value had been” 9% below the competition “, the other companies adjusted their values shortly after, reducing that difference.
The Minister of Economy, Luis Caputo. (Photo: Ministry of Economy)
YPF, which leads the market with about 60% participation in fuel sales, usually mark the rhythm then follow the other companies in the sector to avoid losing competitiveness.
The Confederation of Hydrocarbons and Related Trade Entities of the Argentine Republic (CECHA), which brings together service stations throughout the country, expressed its support to measure but warned the impact that these reductions can have In the profitability of the operators.
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“We support YPF’s decision,” they said from Cecha, although they also claimed measures that allow sustaining the activity in front of the Increase in increasingly adjusted operational costs and margins.
In the petroleum of state shareholder They explained that their price policy is based on constant monitoring of key variables: The evolution of the Brent price, the exchange rate, the current tax burden and the value of the biofuels. Under that scheme, the company decided to apply the cut, which is now also replicated in much of the market.
