Like YPF, the oil company Shell decided to apply increases to its products this Monday, in a context of rising international prices.

The Shell oil company increased its fuels between 10% and 15% this Monday and joined YPF in the adjustments to its products, in a context of rising international oil prices as a result of the Russian invasion in Ukraine.

The new values ​​per liter in the city of Buenos Aires became $134.70 in the V-Power; $111.90 in the Super; $130.80 on the V-Power Diesel and $107.80 on the Formula Diesel.

Prices may vary in the rest of the country, due to differences in the tax component.

For its part, Axion has not yet resolved adjustments but they are “analyzing the price movements of YPF”, the main reference in the fuel market, as it represents about 55% of total sales.

The Shell oil company increased its fuels between 10% and 15% on Monday

YPF increased gasoline: how much did it go?
Since Monday, YPF has increased the price of basic fuels and gasoline by 9.5 percent and an average of 11.5 percent in the price of premiums. In this way, in the Federal Capital, a liter of super gasoline went from 99 pesos to a value close to 110, while the premium option rose from 116.90 pesos to park around 130.

As indicated by the oil company, this adjustment responds to the evolution of the main variables that make up the retail price, especially the increase in international oil prices and demand levels higher than the pre-pandemic, which require imports to complement the local supply.

Along these lines, it was noted that international oil prices have increased significantly in recent weeks, reaching record levels, that is, 50 percent above the prices at the beginning of February 2022.

YPF increased the price of basic fuels and gasoline by 9.5 percent since Monday
In particular, Brent crude, the one used as a reference by the Argentine industry, closed on Friday at a price of 112.67 dollars a barrel, with an increase of 3 per half amid the continuity of tensions due to the Russian invasion of Ukraine.

Fuels rise for the second time this year
The increase in gasoline announced this Monday is the second increase so far this year, after in February they rose by an average of 9% for the country after months of having kept prices frozen.

The last update had been on May 16, and since then, service stations warned that prices were 12% behind, so another increase was expected.

YPF sources indicated that after this adjustment, the company will continue to monitor the evolution of the variables that affect price formation, taking into account the particularities of the country’s macroeconomic context and the international reality.