The country’s presidential candidate gave until midnight Tuesday for the companies to fix the problem; he accuses companies of stockpiling production while waiting for prices to rise
The Minister of Economy of Argentina, Sergio Massawarned the country’s oil companies that the supply of fuels posts must be resolved by midnight on Tuesday 30th.
In a press interview, the presidential candidate said that if the deadline is not met, companies will not be able to board export ships starting Wednesday.
“OR Petrolium Argentine is for Argentines,” he said. “I will defend the domestic supply, I will defend the consumption of Argentines,” Massa said.
Argentina has had problems with fuel shortages within the country, especially in the northern region, due to rising fuel prices. Gas Comes from diesel at the pumps of the state company YPF. A 3% increase occurred the day after the election, despite a price freeze agreement that oil companies have with the government.
The minister specified that, after the first electoral round, some companies decided to accumulate production stocks, in view of a devaluation of the peso. The Argentine oil sector, according to him, is breaking production records.
“They expected a price increase of between 20% and 40% and decided to save production,” he said.
“Argentina’s oil sector is one of the fastest growing sectors in the world. It has a special exchange rate, tax cuts and frozen prices,” the minister said.
Source: Terra
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