After all the headaches and back-and-forth on gas prices, it seems President Mauricio Macri’s administration now has a plan. The government will be proposing an average increase in gas prices of 203 percent, Energy Minister Juan José Aranguren said. Eventually, the Federal Court of La Plata ruled banned gas price increases across the country: the administration appealed and in August, the Supreme Court unanimously decided to halt the increase in gas prices for residential consumers. Aranguren has proposed a change in wellhead gas prices, which will in turn affect consumer gas bills. Aranguren stipulated that the original plan was to increase that to US $4.72, but it will now be US$3.42 per million Btu in October and increase every six months.

Source: The Bubble September 06, 2016 14:37 UTC