YPF Reduces Fuel Prices Amid Inflationary Pressures in Argentina

YPF Sociedad Anónima (NYSE: YPF), Argentina's state-owned energy company, has announced that it will be lowering fuel prices across the country, starting from Oct. 1, 2024. The company announced a 4% reduction in gasoline prices and a 5% reduction in diesel prices. However, the pump prices will reflect a 1% reduction in gasoline prices and 2% in diesel prices. The devaluation of the Argentine peso and an increase in taxes led to a 3% rise in fuel prices, which partially reduced the full benefit of the price cut.

YPF's Fair Pricing Strategy

YPF considers several factors before setting the prices, including local and international market dynamics as well as fuel production costs as it intends to stick to a fair pricing strategy for fuels. Per the company's statement, the reduction in fuel prices is a reflection of the declining trend in the global Brent crude oil prices. The state-owned energy firm ...

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