After receiving the latest report from the international market processed by Ursea, the Executive Power will resolve in the next few hours whether to adjust fuel rates upwards again in July. With these data closed to June 25, andhe price of diesel has a lag of $11.01 with respect to the international reference and of $8.34 in the case of Super 95 gasoline.
This difference occurs as a result of the fact that the rates have been adjusted to date, always below what the Import Parity Price (PPI) indicated. To this is added that during the last analysis window period (which closed on June 25), the prices of refined fuels on the Gulf Coast once again showed an increase.
Taking this background into account, it is likely that a partial adjustment will occur again without strictly taking into account what the rule indicates and the entire difference that exists will not be covered. The acting Minister of Industry, Walter Verri, told The Observer that the decision will be made this Wednesday in conjunction with the economic team.
The current price of gasoil it is $64.99 per liter. If the PPI rule were followed plus other variables incorporated by the Ministry of Industrythe adjustment should be 16.9%with what the projected pump price for July it would be $76.
For the case of the super gasoline, the current price is $80.88. The projection based on the PPI indicates that this product should be corrected by 10.3%, with which the new retail value would be $89.22.
In the latest adjustments, the Executive Branch has indicated that the criteria used have sought to mitigate the negative effects of the international crisis “without neglecting” Ancap’s financial situation. This implied that between January and May Ancap resigned revenues of US$93 million, of which US$60 million were concentrated in the last two months.
