Saturday , May 8 2021

Diario Uno – Oil companies are gearing up to announce a drop in fuel

Oil companies, with YPF at the helm, are preparing to announce next week oil cuts, which in some cases would reach 4%, after the decline in international crude oil that lasted for several weeks, was overcome.

Energy Secretary Javier Iguazel talked about this issue with oil companies so that Saturday's clerks surely gave sure that sometime next week the pumps would reflect a drop that would be a minimal response for users who stood at a very strong 70% increase over the year .

The government's argument is not just the fall of Barnet Brent, which is taken as a reference in Argentina, but also the stability of the exchange, beyond the rearrangement of the dollar in recent days.

For their part, oil companies have reminded that this month will be greater weight for both fuel taxes, which apply to carbon dioxide emissions and the classic ITC, adjustable for inflation.

From December, the two taxes would add weight to almost 25% of the pump's value.

Therefore, it is estimated that in some fuels, such as Super Oil, the low during December would be only 2%.

On the other hand, premium oil will fall by an average of 4%, according to calculations that oil companies have completed by observing the costs at their refineries.

According to official data, oil and diesel supplies fell by 2.8% in October last year compared to the same month of 2017.

But the use of Premium Oil fell sharply, by 28.8%, due to a subsequent increase in pump prices, and this would be the reason for the price cut to be higher in this fuel.

For a year went from selling 253 thousand cubic meters to only 180 thousand.

In the case of Higher Quality Diesel, grade 3, the sales decline was 6.6% in the last 12 months.

November began with an increase of 5% in Shell and Axion, but one week had to cut its growth in half, as YPF, which has an average of 56% of the market, only adjusted its products by 2.5%.

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