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The government has issued a decree freezing the price of fuel for 90 days

After failing to reach an agreement with the oil companies, the government ruled freezing of fuel prices over the next 90 days based on values ​​as of August 9, with an exchange rate of about $ 45.

"Given the magnitude of recent financial economic events have unveiled public knowledge"It is the responsibility of the national executive to use the tools at its disposal and adopt the specific measures necessary to protect consumers," the government argues.

Through a Decree of Need and Urgency published this Friday, The executive branch establishes this Deliveries of crude oil made in the next 90 days from the date of entry into force of the measure must be invoiced and paid at the agreed price between the producing companies and the refineries by 9 August. from 2019, applying a $ 45.19 benchmark and a Brent benchmark price of $ 59 a barrel.

It has been established that the maximum price of gasoline and diesel in all its qualities over the next 90 days may not exceed the price in force on 9 August. This was explained During this period, refining companies must cover, at the prices set out in this DNU, the total national demand for liquid fuels required.

The government's decision to freeze fuel prices comes after ideas and a return after the announcement of Mauricio Macri. The president's advance has caused excitement and discontent at some oil companies, so Wednesday night there was a partial reversal of the decision.

After disagreeing with the major companies in the sector, the government He announced that he would use the Supplies Act, passed in 1974, as the basis for ordering the measure. Finally, it was issued through a Decree of Necessity and Urgency, which will come into force on Friday for the next 90 days.

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