The Minister of Economy, Luis “Toto” Caputo, decided yesterday Thursday that electricity and gas rates will not increase in July, as originally planned, while he will also postpone the increase in the tax on liquid fuels (ICL) scheduled for next Monday. This was confirmed to Infobae by sources from the Treasury.
In the next few hours, the National Government will publish a decree in which it will defer the increase in the tax on liquid fuels (ICL) scheduled for next Monday, as in May and June, in an attempt to not put at risk the slowdown of the inflation.
From July 1, the tax increase will result in an increase of only 1% in the final prices of gasoline and diesel, much less than the 18% expected, as Infobae was able to confirm with official sources.
The decision taken by Caputo is not only about guaranteeing the path of disinflation. The fiscal surplus achieved until May and the prospects of approval in Congress of the norms that will allow greater collection (Ley Bases and fiscal package) give more air to the Treasury.
Delays in the ruling party’s projects or a possible legislative failure would be compensated with, among other adjustments, greater increases in the ICL as Caputo committed to the International Monetary Fund (IMF).
In any case, the oil companies YPF, Axion, Shell and Puma could transfer the 2% corresponding to the monthly devaluation of the peso to the suppliers so as not to fall behind international prices.
Since President Javier Milei took office, fuel prices have jumped by more than 110% on average, thereby partially recovering from the freeze maintained by the administration of former Head of State Alberto Fernández.
Source: Infobae
