December 16, 2017
Wednesday, February 2, 2011

Gov't freezes petrol prices hike

Following the orders given by Interior Commerce Secretary Guillermo Moreno to freeze petrol prices, applying the Supply Law, it has been announced that the enactment will come into place over two days, being published in the Official Gazette issued by the Government.

In response to the attempt to increase fuel prices made by Shell this week, Moreno gave orders to all fuel distribution and production companies to freeze their petrol prices and fix the value to match the consumer price in place on January 28, thus enforcing the Supply Law.

According to Fuel Dealers Federation head Rosario Sica, it is all to do with “a political issue between the Government and Shell, potentially damaging activity.”

He further commented that applying the law, “could provoke problems with supply,” and reiterated that “lack of investment in research” is one of the factors affecting activity.

“The crude oil we have does not suffice, and there is nobody coming to the country to invest”, he insisted, and brought up the case of Petrobras who “had to sell 50% of their petrol stations”. Sica concluded by adding, “if it had been a profitable activity none of that would have happened.”

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Tags:  fuel  prices  petrol  companies  YPF  Shell  increase  Sica  Moreno  

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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia