Oil companies confirmed to the Herald that there would be a rise in gas prices following the end of a price freeze agreement, which had been enacted following the August 13 primaries and was in place until October 31. Different parts of the country experienced fuel shortages at the end of last week, which oil companies said was due to overdemand. On Saturday, companies had promised to normalize fuel supply, but the situation was still ongoing Tuesday. Massa announced the halt on the fuel tax raise via a pre-recorded message published Wednesday morning, in which he also took aim at oil companies. He also accused them of “benefitting from a “differential export exchange rate” and “tax cuts for imports destined to production.”“It is my understanding that, following oil companies’ guarantee to supply enough fuel, the critical situation is over,” Massa said.

Source: Bueno Aires Herald November 01, 2023 13:54 UTC