Paganini said that, according to a preliminary report from URSEC, “there is still a distance of about 3 pesos for gasoline (Super 95 naphtha) and 10 pesos for diesel.” He indicated that the Import Parity Prices (PPI) will be “above” current fuel prices.
The Secretary of State told El Espectador radio that the difference in the preliminary report for fuel prices, as of May, is less than the one in April, when the government resolved a rise of 3 pesos in gasoline and 5 pesos for diesel.
For this reason, he stressed that it will be the Executive Branch that will resolve in the next few hours “a possible new adjustment equal to or less than that proposed by URSEC, or if it maintains the rates.”
He added that two variables are considered: “the financial situation of ANCAP and the Import Parity Price.
Paganini noted that although the average oil for the month is at a lower value than last month, 107 dollars a barrel, and the dollar also improved downwards. “Both things close the distance, but it is still to go up.”
Earnings in ANCAP
On the other hand, he stated that although ANCAP closed a “good year in the balance of 2021, which yielded profits of 88 million dollars, in any case this year for not accompanying the rise in oil, the energy entity had to allocate resources from his cash to subsidize the increases that were not made, according to the magnitude that the URSEA technically suggested”.