2023-12-13 21:44:03
The oil company Shell, the brand managed by Raizen in Argentina, today increased the price of its fuel by an average of 37% at the more than 600 stations it operates in the country, which anticipates a movement at the pumps of all other companies in the country. retail segment.
Company sources confirmed to Télam that the average increase in its fuels reached 37%, a percentage that is added to the 15% that it had provided at the end of last week.
In this way, the reference price of super gasoline in the City of Buenos Aires became $615 as of today, against $449 last Friday, which accumulated an increase of around 57% in the last week.
As on previous occasions, the rest of the companies will do the same in the next few hours in order to avoid a shift in demand that would mean a shortage of stock at their service stations.
Shell is the second network in volumes in the sector since it has a market share of 23%, far from YPF, which leads the segment with almost 55%, and above Raizen, which is around 20%.
The sources consulted indicated that the increase responds to the movement of the official exchange rate, which as of today stands at $800 per dollar, and to the process of price recovery due to the delay accumulated so far this year, due to the agreements reached. carried out with the previous government administration.
In this way, the international reference price of the super variety began to have a value of just over US$ 0.75, below the country’s historical average of between US$ 1 and US$ 1.1 per liter.
On Friday, less than 48 hours before President Javier Milei took office, YPF increased prices at its more than 1,600 stations by 30%, after Shell and Axion implemented an average adjustment of 15%.
The price raid that began since the primary elections broke a process of agreed increases, within the framework of the Fair Prices program implemented since December 2022 with monthly increases of 4.5%, which generated a delay in updating prices at the pump. .
On August 1st, prices had been increased by 4.5% as part of the agreement then in force, but a few hours after Milei’s victory in the PASO and after the 21.6% devaluation of the exchange rate that left it at 350 pesos per dollar, the oil companies decided on August 16 for an average increase of 12.5%.
Days later, this increase was validated by YPF and the then Minister of Economy Sergio Massa managed to agree with the main executives of the sector on the commitment that these values would remain fixed until October 31.
On October 23, YPF made a corrective increase of 5% in the prices of all its products, to compensate for the price gap with the competition that had made “micro-increases” as defined at the time, beyond the freezing agreement.
The recomposition of the shortage that arose in the middle of the run-off campaign took almost two weeks, a time during which the oil companies made another adjustment of 9.75% as of November 1.
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