The Argentine government raised on Monday the values ​​of bioethanol made from sugar cane and created from corn intended for mixing with gasoline that is used in the domestic market, according to a resolution published in the Official Gazette.

The Secretary of Energy of the Ministry of Economy reported that the new price for the acquisition of bioethanol, whether based on sugar cane or corn, was set at $155,168 per liter (some 0.66 dollars), from the previous $148,479, according to official data. This translates into a rise of 5%. It should be noted that the price of the dollar at which the new increase was closed is at a rate of 235.75 pesos per dollar.

The increase will govern “until a new price replaces it”expressed the resolution and added that the bioethanol payment term “nor may exceed, in no case, 30 calendar days from the date of the corresponding invoice”. According to the official text, the new increase is based on the information provided by YPF regarding the price variation implemented on May 17, 2023 for grade two and grade three gasoline, marketed through its owned service stations. in the Autonomous City of Buenos Aires.

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With information from Reuters and Infobae