Sunday , August 7 2022

Will the benzins keep down until the end of March? | Economy



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The National Petroleum Company announced that 93 and 97 octane gasoline will reduce 5.8 pesos per liter a Thursday, which will be pushed down thanks to international indicators and the Fuel Price Stabilization Mechanism (Mepco).

During February 21 to 27 weeks, the 93 octs will reach the reference value of 690.9 pesos per liter; 97 octs reach 711.7 pesos per liter; the diesel will decrease to 512.5 pesos per liter; while the querosene rises to 491 pesos per liter.

Jaime Silva | BBCL
Jaime Silva | BBCL

Deputy finance minister Francisco Moreno predicted that the low could also be repeated next week. "February is a month of low fuel prices. We are looking at analyzing international markets and instability, mainly produced by sanctions & US to Iran and Venezuela," he explained .

But the big question is: will this refusal continue until March as the Executive pledges last week?

For the economist of XTB Latam Chile, Carlos Quezada, a gasoline in Chile will continue to decline until the third week – and even until the fourth – next month. Although this scenario could change if some factors vary: for example, if the PECC countries continue to reduce their offer, as they have been doing since January, and if The United States is increasing its penalties on Venezuela and Iran.

Although Jose Ignacio Loeser, a economist in FK, was more conservative: he pointed out the trade war between the United States and China, especially because of what could happen to the dollar price in a theoretical solution.

"The price of gasoline will certainly go down," he admitted, but "it could happen that oil production is being reduced. Going to predict what's going to be something very complicated," he said.

The best price in 14 months

However, the losses this week were highlighted by the Ministry of Finance: on the one hand, the 97 octane gasoline will register its lowest level since December 2017, while the 93 will reach its best price since May 3 2018

In this way, the 93 octane gasoline will record its successive eighteen loss, from the end of October to the present, increasing to a decrease of 104.4 pesos per liter so far.

Meanwhile, the 97 octan reaches its 17th week of decay, from the 1st name. So, both have dropped on average of $ 100.7 pesos.

In the same line the diesel was shown, reaching fifteen weeks in plumbing (-70 per liter), from November 15.

The prices match the ENAP reference values, which only seek to provide relevant fuel market information, unlike those reported by the National Energy Commission in its Fuel Price Online Information System.

In fact, the company states that it can not be considered a document that defines values ​​for the user in Chile, as these are completely free, because the market of Chile is characterized by being open, competitive and deregulated.

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