Monday , May 17 2021

Oil companies are preparing to announce fuel cuts



December 1, 2018 – 19:52
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%.

Buenos Aires, December 1 (ON) – Oil companies with YPF at the helm are preparing to announce next week a reduction in gasoline, which in some cases will reach 4% after the fall of international crude oil It was a couple of weeks, it appeared today .

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%.

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%.


Source link