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YPF prepares another three fuel increases between October and December

2020-09-26T01:26:37.542Z

Since August, they have already increased by 11%. In October taxes rise and in December the accumulated increase would be 8%



Martin Bidegaray

09/25/2020 - 19:58

  • Clarín.com

  • Economy

YPF, the largest company in the country, will

increase the price of its fuel between now and the end of the year.

There will be two or three increments, at the rate of

one per month

, between October and December.

The comment reached gas stations these days.

The first adjustment could be

next Thursday

, which changes the month.

The Ministry of Energy has to

update two taxes

paid by fuels.

The regulation of that decision should arrive on Wednesday.

It is estimated that this increase will be

between 2.3% and 3.3%.

YPF will not absorb it, that is, it will transfer it to prices.

Sergio Affronti

, CEO of YPF, said there was a price target "for December".

Although he did not specify it, in the sector they assume that there will be an increase for that month.

With increases for October and December, it remains to be seen what will happen in November.

It came to the stationers that there will be remarking, but that it will be less than that of December.

"There is a price target for the second half," Affronti said.

YPF has already raised fuels by more than 11% in Buenos Aires between August and September.

The company declined to specify dates of possible increases.

Speaking of new "price" targets, the CEO of YPF has already established that there will be new amounts.

According to the stationers,

the next increases will not fall below the 7.5% accumulated between October and December

.

Some risk that they will reach 10%, with more emphasis in December.

YPF's liter of naphtha is shipped at

$ 59.49

in the city of Buenos Aires.

It is still behind in relation to the price of

one (official) dollar per liter of gasoline

, which was the predominant one in the last 30 years.

To reach that parity, the increases should exceed 25% in the next three months.

As of October 1, an update on the taxes paid by oil companies will take effect.

According to a calculation by Energy Consilium (the consulting firm headed by former Energy Minister Juan José Aranguren), the increase could reach up to 3.3% in the price of gasoline.

Naphtha and diesel pay taxes on liquid fuels (ICL) and carbon dioxide (IDC).

The update of these taxes is quarterly.

Through a decree, the Executive Branch postponed the application of the increases that had to be made for the first quarter and the second quarter.

Unless the government makes a contrary decision in the next few days, fuel dispatch will become more expensive.

Oil companies can also absorb the tax hike.

But nobody believes that YPF will make that decision.

The company is coming off a record loss in the second quarter

and needs to raise prices further.

The average liter of gasoline from YPF was $ 59.49 in the city of Buenos Aires, while diesel is shipped at $ 55.56.

In order to reflect the 13.6% increase in their taxes, companies should update prices by 3.3% for naphtha and 2.3% for diesel, according to Consilium's calculation.

In an oil company consulted they handled similar numbers.

The amounts of taxes (ICL and IDC) are updated on a quarterly basis, based on the variations in the INDEC's Consumer Price Index (CPI).

With the increases described above, the collection would improve by

$ 2.3 billion per month

.

Consilium calculated that number with the estimated diesel and naphtha sales volumes for the third quarter.

However, the quarter of application (October-December) could be of higher shipments due to lower sanitary restrictions.

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Source: clarin

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