The Secretary of Energy authorized a new rise in bioethanol based on sugar cane and corn. In both cases, the price per liter was 165.43 pesos. The measure generates pressure on the price of gasoline, which already has increases established by the Fair Prices program. Biofuel increased its price by almost 28% since the beginning of the year.
The increase will impact from this month until a new price is determined. The increases in this biofuel occur monthly, so the new increase will be in July. Se confirmed today through Resolution 554/2023, which was published in the Official Gazette, and bears the signature of the Secretary of Energy, Flavia Royón.
The price of bioethanol had an increase of 6.6%. The resolution was defined in the midst of determining new mechanisms to define the price of bioethanol made from corn and sugar cane. Although the calculation to be used has already been defined, it will only come into force on November 1, 2023.
At the moment, YPF gasoline in the Autonomous City of Buenos Aires is considered as a reference value. In 2022 the Ministry of Energy was enabled so that, if necessary, define a price in an exceptional way when there are substantial mismatches between the value at YPF pumps and the costs of making biofuels.
The resolution establishes that the payment period for bioethanol made from sugar cane and corn may not exceed, in any case, 30 calendar days from the date of the corresponding invoice.
Since January, the price has risen 36 pesos. Image: Ministry of Energy.
With the soul must have 12% bioethanol as established by Law 27,640 of the Biofuels Regulatory Framework that will be in force until 2030. For this reason, these increases represent a price pressure for fuel producers which, as usually happens, ends up being transferred to the users.
Last month an increase in biodiesel was authorized, which will be progressive until August. In June the price per ton increased to 318,455 pesos; for July the rise will be 331,194 pesos; while for August operations the price will remain at 344,441 pesos. Between May and August the price per ton of biodiesel it will rise 37,215 pesos, that is, it will increase by 12%.
Fuel increase: see how the prices are in the region
The increase in the price of fuels that was applied in the region was higher than the 4% announced by the national government. In Neuquén and Río Negro some products rose almost double. There are still two confirmed increases that will be applied in July and August.
With the mid-June rise, fuel prices in Neuquén were as follows: $188.8 the Super; $238.7 for Premium; $235.2 for grade 2 diesel; and, finally, $301.4 for grade 3. Considering May prices, Super gasoline ($178.10) rose a 6.01% this month; the Premium ($221) a 8,01%; grade 2 diesel ($221.9) another 5.99%; and, finally, grade 3 ($292.6) another 3.01%.
In General Roca, the prices after the increase are as follows: $184.5 the Super; $234.7 for Premium; $238 for grade 2 diesel; and, finally, $306 for grade 3. Taking May prices into account, Super gasoline ($174.1) rose a 5.97% this month; the Premium ($217.3) 8.01%; grade 2 diesel ($224.5) another 6.01; and, finally, that of grade 3 ($297.1) another 3.00%.