The 3.8% increase in the price of gasoline that began to apply this Thursday at service stations adds pressure to inflation, which already accumulates 102.5% year-on-year.
This figure was reached after learning about the rise in prices during February, which climbed to an unusual 6.6%.
This variation added to the 4% that the oil companies had adjusted their fuels on February 16
adds more points to March inflation, which economists estimate will rise to close to 7% and leave a drag for April.
According to the EcoGo consultant economist, Sebastian Menescaldi, “the average increase between the two increases is 3.9%.
And since the weight in the Consumer Price Index (CPI) measured by INDEC is 5.8%,
the impact on inflation in March is 0.23 percentage points”,
(This increase is due to the increase of the month and the drag of February).
The decision of the oil companies to apply the increases in pumps is part of the agreement that they reached with the Government at the end of last year, according to which the fuels
are part of the Fair Prices program.
For this reason, they were enabled to increase 3.8% in March.
The companies had applied the first increase in the framework of that understanding at the beginning of December and since January they accepted that the scheduled increase would be applied as of the 15th of each month to avoid a greater inflationary impact.
The latest increases were applied
the day after the February inflation was known
When justifying the increases, YPF pointed out that: "this adjustment helps to offset the variation in the official exchange rate, the higher logistics and operating costs, and the increase in biofuel prices," said the oil company.
The same path was followed by Shell and the rest of the market.
This is the
third fuel increase in the year and the fourth that is applied within the agreement with the Government
The increase in fuels will be one more among other increases planned for this month, seasonally inflationary.
In this period, there will also be increases in Transportation, Education, Clothing and other private schools (16.4%);
prepaid (between 5% and 7.7% depending on income);
subway fares (38%);
trains and buses (6%), and the rates for water and gas and taxis (30%).
Despite the effort that users are making to charge their vehicles, according to the oil companies, this latest price increase "is not enough."
For this reason, they will meet again with the Ministry of Energy
to outline the increases that remain for the entire year 2023
In 2022, the oil companies arranged seven increases.
According to official statistics, the item that includes the expenses of Housing, water, electricity, gas and other services of the Consumer Price Index (CPI), increased 4.8% in February and accumulates an interannual variation of 95.2%
, that is, below general inflation.
According to the new values that govern YPF service stations, the average price of super gasoline in the Autonomous City of Buenos Aires (CABA) went from $163.10 to $169.30.
Meanwhile, premium gasoline increased from $209.10 to $217, the 500 diesel jumped from $175.10 to $181.80, and the Infinia diesel fuel went from $250.50 to $259.90.
In the rest of the country, the price disparity is greater.
There are gaps of up to 15% between the outlets in different parts of the country. In any case, the percentage of the increase - agreed with the officials - is similar in all cases.
One day after Shell, YPF raises the price of gasoline
The inflationary impact of updating the fuel tax