Fuels in Argentina increased 27%

Fuel prices in Argentina rose again this Wednesday to 27%, TELESUR reported, citing local media.

This increase was anticipated hours earlier by the director of the Argentine Fuel Chamber (CAC), Raúl Castellanos.

The business owner stated that the entire exchange rate adjustment will be reflected in the price of fuels, and he also pointed out that government policy has a direct influence, since the “current pattern is price freedom”.

Meanwhile, the Argentine Minister of Economy, Luis Caputo, warned that in 2024 the cost of gasoline will continue to increase, at least, until the month of March.

The uploads were ordered at midnight by most firms, including Axion, Shell and Puma. Meanwhile, the state company YPF, which owns the vast majority of the market, followed them during the morning.

The values had already been updated to a large extent in December, so they accumulated 76% in less than 3 months.

On the other hand, the price of food soared by almost 50% in December in neighborhoods in the Buenos Aires suburbs. After the megadevaluation, starting with the Government of Javier Milei, the items that increased the most were meat, noodles, milk, sugar and wheat flour.