July: Fuel prices "could rise 5%" despite a drop in sales
Although some oil companies have already implemented the increases, they report that YPF will adjust prices next month. Within this framework, a 7% drop in sales has already been recorded.
The general manager of the Confederation of Hydrocarbon and Related Trade Entities (CECHA), Guillermo Lego, addressed the current situation in the fuel sector. Lego predicted that a new increase of around 5% could be implemented in early July . The increase continues to worry both consumers and retailers.
"Some oil companies other than YPF have already implemented price increases of around 4 to 5% between yesterday and today," explained the manager of Cecha on Rivadavia AM 630. Although YPF's decision and the intervention of the Energy Secretariat are still pending, all indications are that the price will be adjusted within the same range.
Due to lower activity, fuel sales fell 2.3%.
Regarding the relationship with international prices, Lego clarified that the value of Brent crude, one of the key factors, has been rising. He emphasized: "It went from $63 to $77, although a year ago it was $84, so the increase is not that significant if you look at the long term."
However, for consumers, "any increase is sensitive," and the manager acknowledged that this also affects the retail sector: "It distresses us because we're experiencing a 7% drop in sales , and that's hard on our business." He recalled that the previous government's commitment was to adjust prices based on the value of crude oil: "If it goes up, fuel goes up; if it goes down, it should go down. We'll see what they decide from an inflationary perspective ."
Meanwhile, the market is on alert due to the conflict in the Middle East and its impact on crude oil prices. Thus, the July scenario is shaping up to be one of further increases and declining demand, a combination that worries both consumers and the industry.
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