A 4% increase had already been agreed between the oil companies and the energy and commerce secretaries.
YPF Oil Company has increased its petrol prices by 4%. Will rise this Wednesday, May 17 at 8 p.m. Puma was the first company to adjust its prices.
Oil companies had already agreed with the government on a 4% monthly hike in fuel prices. It was to be held on the 15th of every month, from April to August. Energy Secretary Flavia Rouen called a meeting on Tuesday to address the issue. A freeze was about to come, but the adjustment finally arrived.
Thus, the hike scheduled for Monday was finally formalized today. And Puma started with an increase in fuel from midnight.
Due to its market share, YPF was the only company that could hold the growth. However, shortly before 8:00 a.m., the oil company confirmed that its fuel prices would also increase.
During this year, two rounds of “fair prices” for fuel were agreed upon. The first was between December 2022 and March 2023. Monthly correction of 4% and final correction of 3.2%. The second batch of hikes, from April to August, showed a monthly mark-up of 4%.
Accumulated fuel growth for the January-August 2023 period is between 36% and 37%, if forecasts from the two price agreements announced so far come to fruition.
YPF: how are the prices
These are the new fuel prices at YPF service stations in the city of Buenos Aires:
- Super Naphtha: $184.70
- NAFTA Premium: $232,70
- Regular Diesel: $198.40
- Gasoil Premium: $278,70.
So far this year, fuel has increased by 18% against an inflation of 32% and devaluation of 25%,” he told the region.