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Financial News: ARGENTINA: Gasoline And Diesel Prices Increased By 5.0%

ARGENTINA: Gasoline And Diesel Prices Increased By 5.0% And 4.5%, Respectively

06/04/2018 - 16:15:00 (RTTNews)

(RTTNews) - Gasoline and diesel prices in Argentina increased 5.0% and 4.5%, respectively, after the weekend. The move includes the transfer to prices of the 6.7% increase in the Tax on Liquid Fuels and Carbon Dioxide, authorized by the Federal Administration of Public Revenues (AFIP) after negotiations with the producers and refiners of crude oil and marketers of naphthas and diesel in the country.

At the beginning of May, the AFIP and oil companies, such as YPF, Shell, and Pan American Energy, signed the Price Stability Agreement with Compensatory Account, keeping fuel prices, before taxes, during May and June. With the agreement, companies should be able to compensate the accumulated costs as of July 1 for six months.

"Additionally, an increase of up to 3% will be available for all fuels sold in the country to be applied in July," the AFIP added.

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