On March 1, the Government will apply the second
partial increase in taxes on liquid fuel
(ICL) and carbon dioxide (IDC), which impacts the price of a liter of gasoline and diesel, according to the schedule established by the Ministry of Energy. through decree 107.
In this way, the third month of the year will begin with a new increase in the tax on liquid fuels, which will be transferred to the pumps at the service stations of the different oil companies.
Thus, the liter of super gasoline will increase by $32.63 over the current values and in diesel $21.12, that is, an increase of 4.4% and 2.7% respectively.
This increase could be somewhat greater if oil companies passed on to prices the 2% increase that the official dollar will register in February, which grows at that rate due to the “crawling peg” policy or programmed subbras defined by the Central Bank.
In addition, at the end of April and May, the fourth and final update of taxes that had been postponed repeatedly since July 2021 during the previous administration will be applied.
With the new update that the Executive will apply to fuel taxes, the liter of gasoline would rise by an average of 4.4%.
It remains to be known how much the increase that the oil companies will apply in the sales values at the pumps will be.
Thus, in the event that YPF applies a 4.4% increase on current prices, the liter of super and premium gasoline would be the following in the City of Buenos Aires (CABA):
Super gasoline: from $744 to $777.
Premium gasoline: it would go from $918 to $958.
Increases the fuel tax: what will happen in March, April and May
At the beginning of March, the Government will update the amounts of taxes on liquid fuel (ICL) and carbon dioxide (IDC) that affect the price of a liter of gasoline and diesel.
The increase schedule is as follows:
The first increase was applied on February 1
The second will be applied on March 1 and corresponds to the first two quarters of 2023.
On April 1, the increase corresponding to the third quarter of last year will be set.
The last increase will arrive on May 1 and covers the fourth quarter of 2023.
On March 1, the fuel tax will rise for the second time, corresponding to the first two quarters of 2023. (Photo: Télam)
On March 1, the fuel tax will rise for the second time, corresponding to the first two quarters of 2023. (Photo: Télam)
Naphtha and diesel: what happened to consumption in January after the increase
In January, fuel prices rose an average of 6.5%.
According to the latest report from the Ministry of Energy, during the first month of the year, gasoline and diesel consumption fell 5.76% compared to the same month in 2023.
While higher quality gasoline plummeted and registered a drop of 22.67%.
Due to the price difference, sales in the YPF service station network rose 2.89%.
On the other hand, those of the oil company Shell fell 15.51%.