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ECONOMY | 04-12-2017 16:10

YFP, Shell raise fuel prices 6%

Retail fuel prices in Argentina have risen by 32 percent since the start of 2017. In some parts of the country, fuel can cost up to $29 pesos per litre (US$1.65).

National energy company YPF and the Dutch-firm Shell, which together account for 75 percent of Argentina’s retail fuel market, raised fuel prices by six percent this Saturday on the back of rising international crude oil prices.

The increases bring the annual total rise to 32 percent.

YPF confirmed an increase to its “Súper” product to $22.66 pesos per litre, “Infinia" to $26.15, diesel to $19.99 and premium diesel to $23.18. In the provinces, some premium products had risen to $29 (US$ 1.65), the company announced.

Carlos Gold, president of the CECHA fuel retailers confederation told La Red radio that Argentina now had the second highest retail fuel prices behind Uruguay, with prices similar to those in Europe.

“We’ve been unlucky because crude oil prices haven’t stopped rising. Even though fuel decreased 1.5 percent at the beginning of November given the reduction in the price of biofuel, the other (major) component (in prices), which is crude, has experienced increases”, he remarked.

-TIMES

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