The current situation is damaging to the government’s image before the second round of the presidential elections, scheduled for November 19
In the capital of Argentina, Buenos Aires, the fuel crisis worsened this Monday (30). Motorists are already facing long queues at petrol stations because they are already out of petrol.
🎥 The lack of petrol gets worse and generates long queues at petrol stations in Argentina pic.twitter.com/aMWqYFN0kY
— Metropoli (@Metropoli) October 30, 2023
Complications
The country is a major producer of oil and gas “shale”, but has been suffering from petrol and diesel shortages since last week. The situation occurs in the context of domestic problems with oil refining, as well as dollar shortages, which have delayed imports.
– Where’s the petrol?
ARGENTINA received 1 billion dollars from Brazil and 6 billion dollars from China, but the points are without fuel due to lack of DOLLARS!!!
– Where is the money?
– Where’s the petrol?
– Did Massa take it? pic.twitter.com/LTnU1mdp3y
— Rafael Fontana (@RafaelFontana) October 27, 2023
For this reason, the government is considering stopping exports to preserve supplies. Furthermore, workers in the sector are threatening to go on strike.
Oil company executives say strikes are planned at local refineries, which provide 80% of the nation’s supplies. The fact that the nation has few international dollar reserves has made imports difficult, according to industry representatives.
End of exports
To try to reduce inflation, around 140% on an annual basis, the Argentine government set the price of oil at 56 dollars a barrel, well below those charged on the international market, equal to around 86 dollars, a decision which distorts the economic logic of companies that import products from abroad.
Over the weekend, Economy Minister Sergio Massa told oil companies that they must solve the domestic demand problem by Tuesday(31), otherwise the government will stop exports of shale oil from the large Vaca Muerta field.
“I will defend the internal supply, I will defend the consumption of Argentines”, said the Argentine Economy Minister.
Local unions have supported Massa’s position and are threatening to strike from Wednesday if the internal situation is not resolved. They claim that production is at a record level and that the oil companies are doing it “opportunistic and mean.”
Source: Terra
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