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Bencinas brand new week in the downside amid the volatility of international markets Economy



On National Oil Company (ENP)) reported Wednesday that prices will register fuels from Thursday until February 6.

According to the state company, a liter of gasoline 93 octanes will fall by $ 5.8, reaching 708.3 pesos as a reference, which will mark its fifteenth consecutive loss.

It registered the same change 97 octanes, which reached 729.1 pesos per liter in its fourteenth week down the line. On diesel it will also fall by $ 5.8, marking 529.9 pesos per liter.

On kerosene, however, will mark an increase of $ 3.7, reaching 496.4 pesos per liter.

For its part, the Liquid Gas (LPG) will mark an increase of $ 6, remaining at 213.3 pesos.

ENAP explained that "after a few days in which oil prices are constantly moving, volatility is returning to markets. The fear of possible overproduction of products, the slowdown in the growth of the Chinese economy and the recent projections of the International Monetary Fund (IMF) are key factors in the current context ".

"The rapprochement between US and Chinese presidents, Donald Trump and Xi Jinping, also helped to reduce the fear of a possible over-supply of world raw materials. The market indicated that there is a possibility that the United States will reach a trade agreement with China in the next few days," they said they.

Deepening the reasons for the report, it is stated in detail that "in particular, the agency predicts that the world economy will grow by 3.5%, which is 0.2% less than projected in October 2018. This economic weakness is mainly due to the establishment of import tariffs from China by the United States in 2018, which made the two countries engage in a commercial war that significantly shook the markets. "

"Changes to environmental protection regulations in different countries have also affected these figures," they conclude.


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