(Energy Analytics Institute, Aaron Simonsky, 9.May.2019) — The rising price of crude oil and the dollar are making it difficult for Ancap to maintain naphtha prices, online media El Pais reported 9 May 2019, citing unnamed sources from within the state entity.
It will be difficult to avoid increasing fuel prices due to challenges that exist between the price of oil and the dollar used by Ancap as cost parameters, the sources told El Pais.
During 2019, Ancap is using an average reference Brent price of $54.50 per barrel and a dollar of 33.60, which would translate into a theoretic barrel in pesos of $1.831.20.
This compares to a current Brent price of $70.37 per barrel and a dollar value of around 35, the media reported.
“We know the tariff is important and that it impacts the productive sector, and really everyone. So, it is a serious issue and one to which we have dedicated much analysis,” Ancap President Marta Jara said.
© Energy Analytics Institute (EAI)