YPF will lower fuel prices starting May 1: how much will a liter of gasoline and diesel cost?

Starting this Thursday, YPF , the country's largest oil company, will lower its fuel prices . This was confirmed by the company's president, Horacio Marín , an event that hasn't happened in Argentina for years, given inflation and the devaluation of the peso, which is making the dollar more valuable and oil more expensive for Argentinians.

Marín himself acknowledged that the price cut will average "4%" across all the gasoline and diesel varieties the company offers. Prices have not yet been announced, although based on current reference prices, the price cut could be $49 per liter for premium gasoline and $60 per liter for premium gasoline in nominal terms.

In Buenos Aires, YPF has four reference prices that will be modified on May 1st. For example, premium gasoline, currently at $1.224, will rise to $1.175. The same will apply to premium gasoline, which reached $1.509 last month and will fall to around $1.449 in May.

Finally, a similar situation is occurring with diesel. Regular fuel costs $1,215 today and will drop to $1,167 starting Thursday, while premium fuel, which is $1,475, will drop to $1,416. All these prices are approximate, and final prices may vary depending on the service station and its geographic location within the province of Buenos Aires and the rest of the country.

On April 14, Horacio Marín himself announced that YPF was considering lowering prices if crude oil prices continued to fall, which is what actually happened. "If the price of crude oil continues to fall, we'll do the math and, if necessary, we'll lower prices," he stated.

Added to this is Javier Milei's recent economic measure to loosen the currency controls, which removed barriers to imports and foreign currency purchases, which are crucial in the case of oil. Thus, prices did not rise domestically as expected, and the US dollar stabilized quickly, creating predictability for this decision.