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Financial News: ARGENTINA: After Elections, Gasoline Prices Raised By 10%

ARGENTINA: After Elections, Gasoline Prices Raised By 10% Nationwide

10/23/2017 - 18:22:00 (RTTNews)

(RTTNews) - One day after the victory of the ruling coalition Cambiemos in Argentina's legislative election, fuel prices were raised across the country. While gasoline prices increased by 10%, diesel oil was 9% more expensive on Monday.

YPF - which controls 55% of the market - raised the price by 10% on average. Shell adjusted its rates by 9.9%, while Axion and Petrobras are expected to announce their new prices in the coming hours.

The oil companies claim that the increase in fuel prices was needed after the devaluation of the Argentinean peso against the U.S. dollar and the rising crude oil prices abroad in the last quarter.

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