YPF implemented an increase in its base fuels of 9% country averagean increase that “follows the price adjustment made by the main marketers during the weekend and allows us to prevent the existing price gap with the competition from continuing to widen.”
“Prior to this increase, it was between 7% and 12% and caused an increase in demand for the YPF network, generating significant product breakdowns throughout its system and impacting the level of service to all its customers” the company said in a statement.
Axion and Shell companies fuel prices increased from the first minute of this Sunday between 10.5% and 12% average.
For its part, YPF indicated that “last April, the demand in the local market was very high, especially in diesel, which was the month with the highest demand in history.”
“YPF was the company that made the most efforts to guarantee supply, incorporating 75% of the additional volume required in April compared to March, thus clearly differentiating itself from other marketers that even reduced their product supply to the market during the same period,” the company highlighted.
Thus, he pointed out that “this increase is also associated with the evolution of the variables that make up the retail price: the evolution of the costs associated with refining and marketing; the increase in local prices of biofuels produced by third parties and that marketers must purchase at a regulated price”.
The oil company also indicated that the increase is due to the “sustained increase in international prices of fuels that need to be imported to complement local refining.”
In this regard, he stressed that “international fuel prices have continued to increase in recent weeks, reaching, in the case of diesel, values above 30% of those recorded in mid-March last.”
In addition, he pointed out that “local prices of biofuels have increased in the order of 30% in the same period and it is projected that they will accumulate a 50% increase from January to August of this year.”
“After this adjustment, we will continue to monitor the evolution of the variables that affect price formation, the behavior of competition, always taking into account the particularities of the country’s macroeconomic context and the international reality,” concluded the national oil company.