At the time of the announcement, suspend the fuel price freeze | Chronic

The national government decided Wednesday to summon the oil companies to a round table to agree on the implementation of the announcement on freezing fuel prices for 90 days.
The call will be made through the Ministry of Energy responsible for Gustavo Lopetegui, official sources reported.

At the same time, it was decided to postpone the publication of the resolution under preparation in order to provide adequate legal support for the announcement of the President. Mauricio Macrias part of a package of economic measures.
The government announced that starting Wednesday, it would set the price variables for the dollar and Brent crude to freeze gasoline and diesel prices for 90 days.

"This call to the measure is not a reversal of the announcement of the president but a reversal of the publication of the resolution that should be taken tomorrow to open the dialogue with companies " explained the government source.

Official sources have explained that in order to calculate the freeze in the price of gasoline and diesel fuel over 90 days in the retail fuel segment, a freeze would be applied for the same period of the crude oil price. .

This price would be the price that each refinery had in force with its supplier. It was therefore decided to set the variables to August 9, with a dollar at $ 45.19 and Brent's barrel at $ 59, explained this afternoon Treasury Palace

As a result of this announcement, the Ministry of Energy was working on the design of resolutions for the application of the freeze measure, all the more so since January 1, 2018, a fuel-free market is in force.

This measure taken under the direction of the Minister of the time Juan José Aranguren end the so-called Creole barrel, which imposed a reference value for crude.

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Oil companies consulted after President Macri's announcement acknowledged they were "evaluate the government's decision and hope to see how it will be implemented"But they warned that the measure"This is a very bad sign for the investment climate throughout the fuel value chain".

In particular, companies hoped to know what legal basis the government would require oil companies to set their prices for 90 days. In particular, they feared to use the supply law in case of possible distortion of prices. of the market

In this sense, the sources wondered how the companies would be forced to import a good part of the diesel demanded by the local market at an international price equivalent to the US dollar to 63 pesos to sell at the service stations at the price of 45 , 19 dollars. the government has put.

Until Wednesday's measurements, oil companies – especially YPF who have been setting the pace of price updates over the last few months – have badyzed the redesign of the variables that make up the price of the price. gasoline and diesel, especially by the rise of the dollar since Monday.