From 2018 the price of fuels will be released

The Government confirmed that the formula allowing a quarterly adjustment will no longer apply. The value will be adjusted to the international price of the barrel of crude oil. They study a tax change to avoid too sudden an impact on consumers

The prices of fuels will be tied to the evolution of the international oil barrel. The Government has already decided that it is considering how to avoid a sudden impact on consumers.

The liberation of the value of gasoline and naphtha will begin to take effect from 2018, since at the end of this year the agreement between the major players in the sector to adjust the price on a quarterly basis.

As published in the newspaper La Nación, the decision is already made.

From the Ministry of Energy clarified that, in order to prevent a strong rise in crude oil price impact, is working on a legislative project of “tax character” to cushion both the rise and fall of prices.

The idea of the buffer was suggested by YPF president Miguel Gutierrez to avoid excessive price volatility that consumers will pay.

A question that immediately arises before the novelty is how much this decision will impact the future of inflation.

In the country’s main oil company, they do not think it has any impact and they are optimistic about the measure.

In the rest of the sector they coincide although they do not want to celebrate ahead of time. It is that there was still no official communication to the companies.

Former Energy Secretary Daniel Montamat told La Nación that “the price of the barrel is between US $ 49 and US $ 55, very close to international value.” And more importantly, this world value fell more than 30% in the The last three years, so the alignment does not have to be traumatic. ”

So far, the change in the price of fuels is done on a quarterly basis, based on a formula integrated by the international price of oil, biofuels and the exchange rate.

This year, January rose 8%; In April they fell 0.1% in gasoline and 2.6% in diesel; In July, they rose by 7% and 6%, respectively.