Wholesale fuel prices fall again, says Osinergmin

The reference prices of fuels at the wholesale level were reduced compared to the previous week, reported the Supervisory Agency for Investment in Energy and Mining (Osinergmin).

He indicated that, as of August 29 of this year, the reference price of 97-octane gasohol is S/ 11.33, that of 95 is S/ 10.98, that of 90 is valued at S/ 10.52, and that of 84 is at S/ / 9.49.

The supervisory body maintained that the registered variations are a consequence of the behavior of fuel prices in the US market (gasoline, diesel, residual, propane and butane) during the period between August 15 and 26, 2022.

He mentioned that the main factors that influenced the variation in prices are the following:

• The projection of a new record in 2023, of US oil exports, a country that is becoming the reference supplier of incremental barrels.
• The decrease in oil imports from China, by 9.5%, during July 2022.
• The drop in inventories of crude oil, gasoline and distillates; as well as the increase in propane stocks in the US, as of August 19, 2022.
• OPEC’s failure to meet its production targets for the month of July 2022, at 2.9 million barrels per day.

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