Government of Argentina sets maximum limit for monthly fuel price increases

The Ministry of Economy of Argentina agreed with the energy companies the maximum monthly increase in fuel

The Ministry of Economy of Argentina, together with the Secretariat of Energy, has reached an agreement with businessmen from the energy companies sector to set a monthly top for fuel increases for a period of four months.

Specifically, the increases in the price of gasoline and diesel must be “less” than 4 % during the first three months, while in the fourth month they may not exceed 3.8 %.

This measure, as explained by the Ministry, will contribute to stabilizing the price of fuels, at the same time that it will bring “predictability and relief” to Argentine households. For their part, the companies participating in the agreement (including YPF or Shell) will have guaranteed access to foreign currency for their imports.

The Minister of Economy of Argentina, Sergio Massa, has highlighted that it is “an important agreement”. “It shows that when the State and the private sector work together, it is possible to bring peace of mind and certainty to the pocket of the people who make so much effort every month,” he said.

This Monday’s announcement is part of the ‘Fair Prices’ program launched by the Ministry of Economy two weeks ago, in which, together with the distribution companies, it was agreed that more than 1,700 basic goods keep “fixed” or “with punctual prices rise.”

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Source: dpa

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