The Executive Power announced this Monday a rise in the price of fuels that will take effect from this Tuesday, March 1. The price of Super 95 gasoline at the pump will rise 2% and go from $73.41 to $74.88 per liter, that is, $1.47 more per liter.
Meanwhile, common diesel oil also increased 2% and went from $52.94 to $53.99 ($1.05 more) compared to the current rate. The price of supergas (LPG) also increased, going from $ 59.16 to $60.35 per kilo (2%). In this way, now the 13 kg bottle has a cost to the public of $784.55 (without shipping).
“In a context of a strong international rise in fuels driven by the war between Russia and Ukraine, the Executive Branch decided to reduce the impact of said rise to a 2% adjustment for gasoline, diesel and supergas. Ursea’s reference implied adjustments between 5% and 8%,” the Ministry of Industry reported in a statement.
The last rate adjustment had been made in February when there was an increase of $3 per literalso below what the regulator suggested at the time.
The Minister of Industry, Energy and Mining, Omar Paganini, had said on Friday that according to the latest Import Parity Price (PPI) data published by Ursea, the price of gasoline should rise 5% in March and that of diesel 8% , but that the government was looking for a way to “mitigate a little” the adjustment.
In one month, a barrel of oil rose from US$85 (average price in January) to US$94 in February. This Monday the international price of Brent was trading at US$98, after exceeding US$100 last week in a context marked by the uncertainty of the conflict between Russia and Ukraine.
“The Executive Branch will continue to act with prudence and evaluate the situation in the face of current market volatility, and ratifies its commitment to continue making costs transparent through the current price-setting mechanism, which also constitutes a ceiling so that public rates are not used for collection purposes”, concludes the official statement.
