Thursday 27.6.2024
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Last update 20:49
The national government decided to postpone the gas, electricity and fuel increases that were scheduled for next July. This is how the Ministry of Economy made it known to the national media on Thursday night.
The objective of the measure, according to official sources who spoke to Noticias Argentinas, is to avoid additional pressure on the cost of living due to the impact it would have had on the bills of both households and businesses and industries.
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In the case of electricity and gas, the decision affects companies that provide energy transportation and distribution services whose increase was stipulated to improve economic margins and allocate funds to investments in the sector.
In the case of fuels, the increase was tied to the update of a tax for which an increase of around 115% was planned and whose impact at the pump was stipulated that it could reach up to 18% at service stations.
With these measures, the Government is seeking to avoid reheating the inflation reduction process that has been taking place in recent months, but which specialists speculated would rebound precisely because of the tariff adjustments that were aimed at reducing public spending on subsidies in order to achieve fiscal balance.
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The decision was made, in principle, only for July rates with the intention of supporting the recovery of the population’s purchasing power. The measure is established for household consumption next month and, depending on the billing date, in principle most users would pay it in August.
In this regard, users will pay exactly the same amount for gas rates as in June, as long as their consumption is the same. For the current month, there will be increases in the established gas tariff table of 9.2% for segment N1 (higher income), 33% for N2 (middle income) and 10% for N3 (low income).
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While with regard to fuels, it was speculated in advance that the Government would not fully advance with the increase in the aforementioned tax since it would have meant a sharp jump because it had to update all periods in a single month.
In any case, the intervention on gasoline and diesel is not new, since in May the libertarian administration had decided to postpone the update of taxes on liquid fuels and carbon dioxide, seeking to have less impact on inflation, altering the schedule through decree 466/24.
