The government postponed increases in fuel, gas and electricity

The government postponed increases in fuel, gas and electricity
The government postponed increases in fuel, gas and electricity

In order to curb the impact on inflation, the Ministry of Economy announced on Tuesday night that it will publish a Decree in the Official Gazette, through which the date on which the update corresponding to the Income Tax will take effect will be postponed. the fuels. In addition, Javier Milei’s government decided to suspend for the moment the increases in gas and electricity rates that would have to be applied starting in May.

The Government decided to defer the update corresponding to the fourth quarter of 2023 to June 1, 2024.

Regarding fuels, based on the standard that will be published in the Official Gazette, the Government decided to defer the update corresponding to the fourth quarter of 2023 of the Taxes on Fuels and Carbon Dioxide for unleaded gasoline, gasoline virgin and diesel, as of June 1, 2024.

However, the regulatory entities Enargas and ENRE did not publish the new tariff tables pending a definition of the portfolio in charge of Luis “Toto” Caputo.

The organizations had already calculated how much the increase would correspond to the companies: 10.69% for electricity distributors, 12.5% ​​for gas distributors and 12% for gas transporters. Now everything was on hold.

Economy had to define whether it moved forward with a reduction in subsidies for the low (N2) and middle (N3) income sectors in gas and electricity; if it increased the cost paid by businesses, industries and high-income households, and if it authorized the monthly adjustment of rates for companies.

In the end, none of those will happen and everything will continue as it was or worse, since inflation and monthly devaluation remains at a rate of 7% and 2% monthly and increasingly low- and middle-income residential users demand more subsidies.

 
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