The Minister of Economy, Sergio Massa, announced on Monday the agreement with the oil companies so that the fuels participate in the program Fair Prices with monthly increases of up to 4% until March next year, with what he expects “to walk a path of tranquility”.
“We are going to have December, January, February and March with a path of predefined increases: 4% in December; 4% in January; 4% in February and 3.8% in March, with the aim of continuing to build a path in the in which all sectors contribute to significantly lower inflation, which is the main drama in Argentina“, said the minister during a meeting with executives of the main oil companies.
At the meeting held at the Palacio de Hacienda were present Pablo González (YPF), Marcos Bulgheroni (PAE-Axion), Teófilo Lacroze (Raizen-Shell), among other managers.
The Government launched the Fair Prices program
The agreement covers 100 companies that represent 86% of mass consumption in the country and aims to “achieve price stability for essential products consumed by Argentine households.”https://t.co/bejCScQVaU pic.twitter.com/IBsAfTs4Aj
– Telam Agency (@AgenciaTelam) November 11, 2022
Massa, for his part, was accompanied by the Secretary of Energy, Flavia Royón, and the Secretary of Commerce, Matías Tombolini.
“The fuel issue is a central issue in Argentine economic life. Not only for people’s day-to-day activities but also for the production and agricultural sectors,” said the minister during the meeting.
“It is very important to first thank YPF, Shell, Trafigura, Axion because being able to incorporate them into the Fair Prices program allows us to walk a path of tranquility for the people,” added Massa.
“We understand that when it comes to helping to provide peace of mind and certainty to prices for Argentine society, they are of enormous help”he remarked.
He maintained that “having arrived at this program with a path to give people peace of mind until March helps to calm the Argentine economy, helps the Government to strengthen the path of inflation reduction that we intend to follow and helps companies to give certainty to its entire value chain.
The minister explained that in the agreement “the State undertakes to guarantee access to foreign currency for companies, especially for the supply of lubricants, to temporarily reduce taxes on fuel imports in order to guarantee supply for the sectors of agriculture, especially during the months of January and February, are the most important”.
Lastly, he pointed out that work will be done “in a structure that will also have a particularity, which is the commitment of service station workers to articulate with the Ministry of Commerce in order to guarantee control and compliance with the Fair prices.”
