October 1, 2014
Gov’t authorizes 6% limit for petrol rises
Economy Minister Axel Kicillof has announced an agreement with petroleum companies to raise fuel prices no higher than 6 percent, in a press conference held this afternoon.
The accord obliges Anglo-Dutch multinational Shell to reduce prices set during last week’s unilateral increase of 12%, while state-owned YPF, Brazilian Petrobras, Axion and Oil will now be allowed to elevate their prices.
Kicillof also revealed that he had met with Shell CEO, Juan José Aranguren, a target of government criticism in recent days, although no further information on the summit was divulged.