Petroperú charges more for fuel

In Peru, fuel prices remain high despite the fact that a barrel of intermediate oil from Texas (WTI), as of September, is already at US$86.87. Thus, for example, there are taps in six districts of Lima (San Isidro, La Victoria, Miraflores, San Juan de Miraflores, Cieneguilla and Barranco) where the cost of a gallon of 95 Plus gasohol is above S/25. , according to the Facilito portal of Osinergmin.

Meanwhile, in 10 districts (Barranco, Santiago de Surco, San Juan de Lurigancho, San Isidro, Miraflores, Villa María del Triunfo, Carabayllo, Surquillo, San Juan de Miraflores and Ate), 90 Plus gasohol is worth equal to or more than $22.

LOOK: Gallon of 84 gallon gasoline costs up to S/ 20 at taps in Lima and Callao: where to find the best prices?

Analyst Anthony Laub stated that each faucet sets the price it deems convenient. However, he specified that there is an important factor that influences, and it is the cost at which the large traders sell, mainly Petroperú.

“Petroperú and Repsol import the product and put their own marketing margin on it. Then they send them to wholesalers or retailers for distribution throughout the country,” he explained, specifying that the state company has the largest share of the fuels sold in the market.

In addition, he said that in recent months there has been a difference in Petroperú prices of around US$40 per barrel, despite the fact that Osinergmin provides a lower reference cost.

“If we analyze what happened in July, for example, Osinergmin’s import parity price was S/14.71 per gallon when WTI cost US$101.62. But the ex-Petroperú plant price was S/18.43 per gallon, that is, S/3.71 more (see table). This means S/156.28 more per barrel, which is equivalent to US$40. Those extra US$40 are what the state company charges the taps for a barrel that at an international level was US$101.62″, he detailed.

For the analyst, the state company seeks to obtain a profit margin to settle its debts, mainly related to the Talara Refinery (Piura), for which he doubts that prices will fall at a faster rate in the coming months.

“Is it justified that there is such a pronounced difference between Osinergmin’s reference price and the one that Petroperú charges you ex-plant? No”, he pointed out and indicated that, although the company must have a marketing margin, “it cannot be so rude”.

Production and competition

For his part, the former Minister of Energy and Mines Carlos Herrera Decalzi considered that one of the reasons why gasoline prices are high is that Peru produces 40,000 barrels per day and consumes 250,000.

“That is, a person buying a barrel of gasohol would pay US$294, above the raw material (crude oil),” he said.

Meanwhile, analyst Aurelio Ochoa assured that there is a disparity between the price of one tap and another, even in the same district.

“You have to try to generate competition, because it cannot be that there is so much difference between taps,” he added.

Data

Carlos Herrera Descalzi stated that normally Repsol imitates the prices that Petroperú has to offer them to the market.
The average price of a gallon of gasoline in the United States is now $4. In June it reached highs of US$5 a gallon.