The Government demands oil companies for irregularities in oil prices

 

In a press conference given by government officials at the Economy Ministry, Planning Minister Julio De Vido revealed “serious irregularities" in the price of bulk gas oil sold to transport companies after receiving reports against oil companies made by a group of fuel dealer chambers.

 

The conference was also attended by Transport Secretary Juan Pablo Schiavi, acting President Amado Boudou, and Economy Minister Hernán Lorenzino

 

De Vido revealed that reports show “a substantial difference between the price of bulk gas oil supplied to transport and truck companies, and the price at regular petrol stations, being the former sometimes 30 percent higher than the latter.”

 

“This represents a clear market distortion in which the prices for gasoil bulk sale are being manipulated”, De Vido emphasized

 

Likewise, the minister remarked that the government “will deeply analyze all information received in order to determine whether these oil supply companies have abused of their dominant position hence conforming monopolies.”

 

To end, De Vido remembered that the “Argentine State subsidies these kind of products, and is not going to allow, under any circumstances, the existence of price manipulation”, and added, “We will fine those responsible

 

Afterward, Schiavi took the word to reveal that reported companies are “ Repsol-YPF, Shell, Esso, and Oil Combustibles.”

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