Raízen Argentina, licensee of the Shell brand, announced that, starting this Sunday, fuel prices will increase by an average of 4%
For iProfessional
01/15/2023 – 10:48 a.m.
The oil company Raízen Argentina, licensee of the Shell brand, applied the 4% increase in fuels starting at 0 am this Sunday, within the framework of the agreement reached by the national government with the oil companies last November.
At the end of November, the Minister of Economy, Sergio Massa, announced the agreement with the oil companies so that fuels participate in the Fair Prices program with monthly increases of up to 4% until March of this year.
The firm announced yesterday that with the price update it seeks to “minimally absorb the increases in the prices of biofuels, the increase in logistics costs, and the variation in the official exchange rate that affects the price of the raw materials that we use for the fuel production”.
In this way, the companies applied a first increase in December within the framework of this understanding, but in January they accepted that the scheduled increase be applied as of January 15 to avoid a greater inflationary impact.
Raízen Argentina, a Shell licensee, announced that, starting this Sunday, fuel prices will increase by an average of 4%
The increase had been postponed
They specified that “the refining sector as a whole will not apply a increase in fuels immediately”, but rather that the expected 4% increase “would be after the second half of January”.
In the refining sector, YPF, Raizen (Shell), Pan American Energy (PAE) and Puma Energyamong other companies.
Last November, the sector agreed with the national government to participate in the program Fair Prices with monthly increases of 4% in December, 4% in January, 4% in February and 4% in March.
