Friday , August 19 2022

March would begin with another fuel increase



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Raúl Castellanos, secretary of the Business Business Chamber, explained that the percentage of the increase in fuel prices will depend on different variables.

"The price of oil, the value of the dollar that is influenced, is considered; the tax charged on fuel is adjusted for inflation every three months"He said.

"In general, the ratio is one liter of super naphtha for the value of one dollar," he said.

The entrepreneur said there was a significant reduction in fuel consumption, with a 5% reduction year on year in December and 10% in November.

Meanwhile, he suggested that CNG "had risen less than liquid fuel" and costed "half of the super naphtha". "It is not measured by the same parameters. It's competitive," it ended.

If this increase occurs, the second month would be consecutive with variations. Earlier this month, the YPF company increased its fuel price through the country by 1.6%.

The companies' sources indicated that the increase could be 5%, if the raw values ​​and dollars continue at current levels or grow even more. So far this month, the dollar rose by almost 5% and the Brent increased from 62.60 dollar barrels starting at the beginning of February to 66.20 dollars at the end of Thursday, which is equivalent to an increase of 6% up this month.

Taxes are another problem. According to the companies, what is already installing a floor of 2% increase in naphtha and diesel for March is the incidence of fuel tax, which is quarterly updated based on inflation of the previous period. In this case, the one between October and December, which was 3.7%, was the president of the Confederation of Hydrocarbons and Allied of Argentine Trading Institutions (CECHA), Carlos Gold.

Source: agencies and digital media.

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