This Monday, January 31, the government defined the new fuel values that, as indicated in a statement by the Ministry of Industry, “cushions the international rise in fuels.”
“Despite the 15% increase in oil recorded in the last month, which is added to the increases accumulated in previous months and local cost overruns, the Executive Power has defined an adjustment significantly lower than what would correspond,” said the Ministry. of Industry.
Likewise, “the Executive decided again to use extraordinary profits from ANCAP to mitigate the strong escalation of costs that has been recorded,” the Secretary of State remarked.
3 pesos per liter
The fuel adjustment, which is effective as of 00:00 hours on Tuesday, February 1, will be 3 pesos for fuels with the highest consumption, indicates the government.
“This is a significantly lower increase than the international prices reflected in the PPI published by URSEA, which were driven by a strong rise in oil and freight,” the Executive remarked.
He also recalls that the last rate adjustment was made in August 2021 and since that date the government “has been absorbing 100% of the increases with ANCAP’s extraordinary profits, which were used to benefit fuel consumers.”
The URSEA report
On January 27, the Board of Directors of the Energy and Water Services Regulatory Unit (URSEA) approved the Import Parity Prices (PPI) report for the period from December 26 to January 25, 2022.
The URSEA proposal established that the increases should be: 8.62% in the case of Premium 97 naphtha; 8.73% for Super 95 gasoline; 7.59% for diesel 50s, and 8.62% in the case of supergas.
