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Wednesday, February 5, 2014

Gov’t authorizes 6% limit for petrol rises

The accord obliges Shell to reduce prices while state-owned YPF, Brazilian Petrobras, Axion and Oil will now be allowed to elevate their prices.

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.

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Tags:  Argentina  Economy  Kicillof  Shell  Oil price  





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