Buenos Aires Times

economy Energy Ministry announces hike

Gas prices to rise 45% from December

The government had suspended a hike to gas prices in October as the mid-term elections approached. The increases will raise the average household gas bill to $277 pesos per month.

Thursday 16 November, 2017
Gas prices across Argentina are set to rise by an average 45 percent for households and 58 percent for businesses.
Gas prices across Argentina are set to rise by an average 45 percent for households and 58 percent for businesses. Foto:Télam

Gas prices in Argentina are set to rise by an average 45 percent from December, the Energy and Mining Ministry predicted Wednesday in a presentation held in La Boca.

The Macri government considered a 19 percent increase in gas prices, a 40 percent increase in transportation and distribution costs and a 15 percent rise in wholesale prices, in its latest attempt to wind down the effects on consumption of the previous government’s energy subsidies. 

Most businesses will see an increase of 58 percent, while residential properties with low gas consumption are expected to see a 56 percent average increase for a monthly bill of around $227 pesos excluding taxes, said Marcos Porteau, the ministry’s sub secretary of Exploration and Production.

The government is currently considering an increase to electricity prices in line with the Energy and Mining Ministry’s 2016 economic forecast for energy prices.

Wednesday’s announcement comes after the government, wary of any electoral consequences, postponed the gas price hike in October.

-TIMES

Poll

Op-Ed

Top Stories

  1. 1The world swings to the rightThe world swings to the right
  2. 2A history of political violence and the issue of the Mapuches
  3. 3Elite universities: How 'admissible' are you?
  4. 4In symbolic vote, Venezuelan legislators vote to prosecute Maduro
  5. 5IMF predicts brighter Brazil economy in 2018-2019
  6. 6Time magazine names Macri among world's '100 most influential'
  7. 7Thirteen former military, police torturers sentenced to prison in Córdoba
  8. 8Peronism in crisis: Ousted leader Gioja cries foul over court intervention
  9. 9Activists renew calls for legal abortions
  10. 10Gov’t readies 3 bills to replace Macri’s controversial ‘megadecree’