For the second time this year (the first was in March), the National Government decided to once again postpone the updating of fuel taxes. He reported it this Friday afternoon through decree 332/2023 published in an annex to the Official bulletinwhich provided that the increases in the amounts of the taxes resulting from the updates corresponding to the third and fourth calendar quarters of the year 2021, the first, second, third and fourth calendar quarters of 2022 and the first and second calendar quarters of 2023 shall effects for the unleaded gasolinethe virgin naphtha and the gasoil from November 1, 2023inclusive.

This is a strategic movement to try to contain prices and prevent inflation from being strongly transferred to the pumps. It should be remembered that in July it is planned a rise of 4.5% that will impact the consumer, after the Fair Prices agreement was in force, which established a 4% increase, but was refuted by the oil companies who asked to bring the adjustment closer to 6%.

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In his argument, the rule states that “in the case of excise taxand since the demand for liquid fuels is highly inelastic, variations in taxes are transferred practically directly to the final prices of fuels”. “In line with the measures implemented to date, and in order to ensure a necessary stabilization and one proper price evolutionit is reasonable to postpone until November 1, 2023 the effects of the increases in the amounts of the taxes”Justifies the regulations.

The decree bears the signature of the current president Alberto Fernandez, of the chief of staff, Augustine Rossi, and the Minister of Economy, Sergio Massa.