Argentina's state-owned Petronas announced an average increase of 25% in fuel at gas stations, a move in response to inflation that could reach more than 180%. Other oil companies have followed suit by raising prices by about 20 percent at gas stations across the country.
This news comes from a Reuters report on December 8. The decision comes on the eve of the swearing-in of the incoming new Javier Milley over the weekend. Milley, who won 56 percent of the vote in the most recent second round of voting, is a new face from a far-right liberal who will take over a country with soaring inflation, dwindling foreign exchange reserves and rising poverty.
The new pledge is in economic shock, which includes the eventual closure of banks, the dollarization of the economy, and deep cuts in public spending. The decision seemed to many to be imminent, as they were concerned about the economic woes facing the country.
The report also quoted a 43-year-old member of the public as saying that it was embarrassing for gas station prices to rise sooner or later, but it seems that they have no choice but to suffer the consequences. He thinks it's not entirely the result of the new **, and the days ahead are going to be very difficult.
Energy Minister Rodriguez, who is expected to take office this week, is expected to be under intense pressure, saying in an interview that he supports allowing the fuel to float freely and does not want indirect control through the national oil company. This is also because Argentina holds a 51% stake in the national oil company, so this move will inevitably be regulated and affected by **. The economic policies and adjustments of the new ** will be the focus of the future, especially in the context of pressing economic issues.