The devaluation of the peso against the dollar and the need for refining companies to recover their margins are driving a 4% to 5% increase in gasoline and diesel prices, with super gasoline in Buenos Aires expected to be above $875 per liter. Oil companies are currently facing a 10% gap in diesel prices at the pumps and a 29% gap in gasoline prices compared to import parity. These gaps have been widening since February, when refiners had previously updated their margins between November and January but had to moderate the increases beginning in February.
Despite the postponement of fuel tax updates until June, this rise is still expected to take place, leading to higher prices at the pumps. The demand for gasoline and diesel has decreased by 12.1% year-on-year in March at the national level, according to consulting firm Politikón Chaco. Despite these challenges, oil companies are looking for ways to adjust to the changing economic climate and fluctuating fuel prices.
