In the first five months of the year fuel rates increased four times and they always did so with corrections lower than those indicated by the evolution of international prices.
In two weeks, the The Executive Branch will decide what will happen to the prices of gasoline and diesel in Junetaking into account the Import Parity Price Report (PPI) prepared by Ursea and Ancap’s finances.
As a preview, it is worth seeing how fuel prices have evolved so far in the US Gulf of Mexico Coast (reference market) in the first 14 days of the new windowwhich runs between April 26 and May 25.
The latest data published by the US Energy Information Administration (EIA) updated to May 9, show that average dollar values became more expensivewhile the value of the exchange rate in the local market rose slightly.
In that way, the average value per liter of gasoline rose by about $4 so far and stood at $38, compared to $34 the immediately previous month, according to data processed by The Observer. For Super 95 gasoline, the most consumed in the country, Ursea takes the average international price of two types of gasoline: CBOB Regular 87 and CBOB Premium 93.
While, the diesel It is based on the price of Ultra Low Sulfur Diesel (ULSD 62). The average price per liter was Approximately $49.3, which is $8.7 more than the previous immediate reference of $40.6. These values are only an approximation of what happened in the first two weeks of the new measurement window.
For its part, Brent oil prices for June delivery closed Friday at $111 a barrel. In April the average price was US$107 and it stands at around US$110 so far in May. It was a volatile week marked by expectations of new embargoes on Russian oil, fears of a slowdown in demand due to high prices and the new restrictions imposed by China to stop the expansion of covid-19 cases.
This month, by decision of the Executive Power, the rates rose $1.5 in the case of Super naphtha and $3 for common diesel. As explained by the government, the decision sought to contemplate the care of public finances and at the same time mitigate the extra inflationary pressures caused by an increase in rates.
Taking into account that in the previous months the prices in the domestic market have been correcting below what the international reference indicated and today they are misaligned (below) with respect to the last PPI report. The difference is $1.52 in the case of gasoline, and $6.43 in diesel, according to Ancap data.
From January 2021 to date, the price of Super 95 gasoline has increased by 36% per liter, and 50-S diesel has increased by 53.4%. In that period, the average price of oil rose 94%, going from US$55 in January 2021 to US$107, which was the average in April 2022.
