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Oil companies will publish low fuel

December 2, 2018 – 1:02
Premium oil will fall by an average of 4%, and Super fall by only 2% in December.

Oil companies, with YPF at the helm, are preparing to announce next week oil cuts, which in some cases will reach 4 percent, following the drop in international crude oil that was a couple of weeks yesterday.

Energy Secretary Javier Iguazel discussed the issue with oil companies, so the inmates yesterday said that some time next week the pumps would reflect a decline that would be a minimal response to users who endured very strong increases in 70% over the year.

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

For their part, oil companies have reminded that this month will be greater than the weight of both fuel taxes, which applies to carbon dioxide emissions and the classical ITC.

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 they had to reduce the half-week increase, since the YPF, which owns a 56% market average, only adjusted 2.5%.

CNG rose in Buenos Aires

The price of compressed natural gas (CNG) has risen from yesterday to an average of $ 16 per cubic meter in the city of Buenos Aires and the suburbs of Buenos Aires.
Thus, the price of CNG in the Buenos Aires metropolitan area is between 14 and 16 dollars per cubic meter, while the rest of the country values ​​are higher.
This was confirmed by the vice president of the GNC Consumer Chamber, Pedro Gonzales.
Gonzalez explained that the increase is 14% in the area of ​​Gas Natural BAN and Metrogas, and that the new values ​​will remain until April 30th.
"This is good because it gives a forecast framework in an inflationary context," Gonzalez said to maintain prices by next April, when current deals are over. For the reasons for the increase in the price of CNG, the businessman explained that these contracts that expire in April are the only ones in the country that are in the pesos and that the devaluation "we are left with outdated prices".

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