Tuesday , May 18 2021

Oil companies and government, very close to announcing a drop in oil – 11/30/2013

The usual scene is repeated almost every last day of each month. The driver line is packed with pump stations at service stations. Drivers try to store fuel before the next increases in these products arrive.

However, this weekend, photography may be different. As they comment in several gas stations, in the next week there will be a reduction in the price of fuel. It will average between 2% and 4%, according to the type of oil and the flag. As a counterweight, it is likely that there will be an increase in the amount of diesel.

The government has already discussed with oil companies about this possibility. On the one hand, the executive mention the decline in the international price of barrel oil, but also that devaluation of the dollar against the dollar stopped. The local currency stabilized most of the month, although in recent days it has risen again.

During December, There are two tax increases: up to carbon dioxide emissions and on Transfer of fuels. The former is fixed, and the latter is adjusted to inflation. So far, they have measured 23.8% of the retail price, but that incidence will be greater than next week.

Official sources for Clarin that a reduction of 10% in the amount of "premium" fuels is required. But the fall in prices that came to discuss these days is lower. It will be close to 4%, because refineries – those that transform oil into fuel – will send it up to 8% less at gas stations. But the tax issue will reduce the effect of the low level.

Some refiners estimated, over this week, that the fall in oil prices It should be about 3%. This is because they noticed that the dollar again gained strength against the peso in the last few days. However, other companies took into account the Government's review to review the price of the pesos against the US currency during the month.

The government already had some interference in the last fuel increase in November. On this occasion, some companies came up with a 5% note, but then corrected the reaction of YPF, which increased by 2.5%. In the YPF's decision, there will be an official proposal, because they are slipping into the sector.

"If there is a fall, it is due to the fall of the dollar, since oil growth (33% growth) has never been reflected in sector prices, it can be reduced because it never rose," one of the most listened oil consultants in sector.

The Energy Secretariat, which reports to the Ministry of Finance, is advancing on the "competitiveness" table for YPF, Shell, Axion refiners, in which officials and company managers can discuss the costs of the sector. Officials believe that local margins go beyond international margins and local managers want to replicate them.

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