En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





Argentina up prices of gas, electricity as government cuts subsidies



By Reuters Staff

Petroleumworld 12 04 2017

Argentina has again raised the price consumers pay for electricity and natural gas, the government said in its official gazette on Friday.

The Energy Ministry's decision comes as President Mauricio Macri's market-friendly government seeks to reduce subsidies for energy consumption as part of efforts to shrink the fiscal deficit.

The subsidy cuts over the past two years have contributed to high inflation in the South American country. Economists expect consumer prices to rise 23 percent this year, above the central bank's target range of 12-17 percent.

The average Argentine family will now pay around 1,500 pesos ($86.97) per month in total for gas and electricity, Energy Minister Juan Jose Aranguren said at a press conference. The last price hike for power was in March. Lower-income Argentines will retain access to subsidized rates.

Local media said the new rates represented increases of about 45 percent.

Aranguren said the higher prices would encourage domestic energy production and reduce Argentina's dependence on imports. Argentina currently imports around one quarter of the natural gas it uses.

“That, for a country abundant in hydrocarbon resources, is almost sacrilege,” Aranguren said. “We need to create the conditions to have a system that allows us to recover investment.”

$1 = 17.2475 Argentine pesos

Reporting by Hernan Nessi; Writing by Luc Cohen; Editing by Bernadette Baum from Reuters.

reuters.com 12 01 2017

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels





Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.