MercoPress. South Atlantic News Agency

Price of gasoline at pumps drops slightly in Uruguay

Paganini explained a compromise decision was made to keep the price of diesel fuel unchanged

Uruguayan authorities have announced a UY$ 3 (US$ 0.074) reduction in the price of gasoline at pumps effective Thursday. Energy Minister Omar Paganini also explained the price of supergas (cooking gas) and diesel fuel would remain unchanged.

According to Paganini, the decrease follows a drop in international prices which has impacted the Import Parity Price (IPP) which is the index whereby the price of fuel for Uruguayan consumers is adjusted periodically.

During a press conference at the state-run oil company Ancap's headquarters, Paganini explained that the measure was also the result of the government's policy to reflect the reality of international markets.

Gasoil 50S will remain at UY$ 64.99 (US$ 1.59) per liter and supergas at UY$ 63.35 (US$ 1.55) per kilogram.

Paganini said the drop in international prices allowed this decision regarding naphtha, but not when it came down to diesel fuel, since in Uruguay it was UY$ 1.5 below international levels.

Hence, a liter of fuel from September 1 will cost UY$ 77.88 (US$ 1.91) per liter of Super 95 naphtha and UY$ 78.85 (US$ 1.93) for premium gasoline.

According to the Import Parity Prices (PPI) report published by the Regulatory Unit of Energy and Water Services (Ursea), the price of gasoline could have dropped up to UY$ 4, it was reported.

Paganini explained that in that report it was also proposed to increase the price of diesel oil (1.50 pesos), so a compromise decision was made due to the importance of diesel oil for local industries and distribution purposes.