Argentine government authorizes increases in biofuels prices

In Argentina, Infobae reported that the Ministry of Energy authorized an increase in biofuels prices of between 28.5% and 34.4%, which will result in greater pressure on the value of gasoline and diesel.

The law obliges local oil companies to buy biofuels to blend with gasoline and diesel.

According to the rules published by the Ministry of Energy, the decision for the new increases was made “given the current macroeconomic context ” and to address “the impact that the modification of relative prices has on the cost structure.”