The government has begun a discreet but persistent negotiation with oil companies. The goal is to achieve a 10% reduction in the price of fuel, at least in the "premium" in December.
"There is a carbon tax update in December, but we believe that oil companies have already achieved import parity (the price of import parity against which domestic production is measured) and now they have to reduce the amounts to 10%, at least in the premium (naphtha), "in detail from" Rozada ". "Oil companies resort to premium imports (refining), if the import price is what they take into account, it will logically be that they are reduced."
In the executive branch, they say they have tolerated the rise in the international oil price, which reached $ 85 at the beginning of October. But this has now changed the scenario, and crude oil drops to an area of $ 62 a barrel in the case of Brent, the variety being seen in the country.
In the executive, they will raise these arguments before the YPF authorities, but they can also take them to Axion and Shell, the other major players on the market. In any case, the official belief is that YPF has such a significant leadership in the market, which brings the market.
In oil companies, they still do not comment on the position proposed by the executive. They recognize that export parity is close to or attained by current price levels in the sphere, for example. However, they note that they do not reorganize their income in the amount of depreciation.
In October, the office of naphtha fell by 6%, each of which was more pronounced in premiums, with two digits.
Source: Los Andes