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This Saturday fuel increases higher than expected: the average increase will be 3.5%

2021-01-16T00:52:43.403Z


It is for a tax update and a recomposition of profit margins. Martin Bidegaray 01/15/2021 21:38 Clarín.com Economy Updated 01/15/2021 9:39 PM Fuel prices increase again from hour 0 this Saturday . The increase will be an average of 3.5% throughout the country, higher than initially expected. The cause of the increase is an update of the taxes paid on fuels, which has an impact since this Friday, plus an improvement in the profit margins of the oil compani


Martin Bidegaray

01/15/2021 21:38

  • Clarín.com

  • Economy

Updated 01/15/2021 9:39 PM

Fuel prices

increase again from hour 0 this Saturday

.

The increase will be an average of 3.5% throughout the country, higher than initially expected.

The cause of the increase is

an update of the taxes

paid on fuels, which has an impact since this Friday, plus

an improvement in the profit margins of the oil companies.

Since mid-August, when the first adjustment of this management was authorized, fuels have

already risen more than 33%.

Before that increase, super gasoline was at $ 53.47.

Now, it

will exceed $ 72.

Due to the tax component, an increase of 1.4% was expected in the case of diesel and 2% for gasoline.

But the oil companies also wanted to rebuild margins that were behind due to December inflation, and that is why the increase is higher.

As fuels already rose 3% on Tuesday of last week, if these new taxes are added, they will end up with a cumulative adjustment close to 7% in less than two weeks.

There was another tax update a month ago, on December 15th.

Between the two and a recomposition of biofuels, prices rose more than 12% in one month.

The price of super naphtha fuel will exceed $ 72 in Buenos Aires at YPF.

This oil company usually has the lowest amounts in the market.

And the $ 71 refers to the city of Buenos Aires.

Now crossing the suburbs, that amount is higher, which implies a rise higher than the 33% that were in August.

After the last increase on January 5, the super gasoline went to $ 69.40 in Buenos Aires at YPF stations.

The "premium" (infinia) was $ 80.20.

Diesel diesel ran at $ 64.60 and the "premium" at $ 76.10.

In December, the government decided to increase the taxes paid on fuels.

A 5.4% increase was applied since December 15 and now there is another 7.7% from January 15.

This would be the seventh upload since August.

The tax increase from December 15 was passed on to suppliers, along with an update to business margins.

On that occasion, the increase was an average 4.5% and 5.5% in the city of Buenos Aires.

The rise of last week, according to the oil companies consulted, only responds to the higher price that oil companies have to pay for the biofuels they use.

The tax increase is not covered, as clarified last week.

For that reason, in view of the update of these taxes, this increase comes, accompanied by "some" of margin recomposition.

Until now, every time they raised taxes, the oil companies ended up transferring it to prices.

"Prices are already delayed by more than 11%" say the companies to justify that there is no margin not to make an increase.

Furthermore, they also define whether there will be an additional recomposition. If this increase is applied, the amounts of fuels will have grown by 10% between mid-December and mid-January.

Clarín announced this increase in its January 6 edition.

In October, the increase in these taxes took place.

The Executive Branch asked YPF not to transfer them immediately.

He did it at the beginning of the month.

But, in the middle of the month, when the increase took effect, the state oil company ended up increasing.

So did its competitors.

Source: clarin

All business articles on 2021-01-16

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