Since on Thursday, May 1, the reduction of fuel prices of the Company Fiscal Petroleum Fuels (YPF), who announced a 4.5% decline over the values of gasoline and diesel values. Now it is expected to know the definition of three other companies in the market: Axion, Shell and Puma.
YPF’s decision arises after the descending movement of the price of oil last March, where 15% was reduced since the end of that month, with the decrease in the value of the barrel of US $ S74.98 AU $ S63.60.
Within that framework, the national company informed that it made a “constant monitoring of key variables to define its price policy” and that it took into account to apply the reduction “the international value of the Brent, the exchange rate, the tax burden and the price of biofuels.”
When announcing the decrease in fuels, YPF issued a statement where he says that “it complies with the commitment to offer products of the highest market quality and with the price agreement with its consumers.”
The last increase applied by YPF was 1.7% average nationwide on April 1, below 1.9% in March. The increases responded mainly to the update of the Liquid Fuel Tax and the carbon dioxide, in addition to internal cost adjustments.
“Prices are not tied to inflation,” said Horacio Marín, director of the oil company, in reference to the March IPC data (3.7%), and said that fuels are adjusted according to the price of the international crude oil, the tax burden and the exchange rate.
In relation to the price structure, the YPF Executive indicated that the value of fuels in Argentina is very close to the level of Import Parity, the international price reference, with a difference of just 1%. He also stressed that there are provinces and cities where there are still price distortions that the oil company is trying to correct.
Currently, the price of the liter of gasoline in Argentina is around US $1,1, placing the country as the most expensive third in South America, only behind Uruguay (US $ S1,8) and Chile (US $ S1,2), according to international data.
Source: Financial scope
C.S.
