Argentina's YPF Shields Fuel Prices Amid Global Crisis

Argentina's state oil firm, YPF, has swiftly put into action a fuel price buffer to stabilize prices for a 45-day period. This move, announced by Chief Executive Horacio Marin on X, is intended to safeguard households from price fluctuations amid the ongoing U.S.-Israeli war against Iran.

'During this period, YPF will not pass on to consumers the impact of the new Brent variations,' Marin declared on Wednesday evening. The initiative follows Argentina's decision to delay planned tax hikes on liquid fuels and carbon dioxide until April's end, in response to global pressure on oil prices.

Marin confirmed that YPF is not engaging in speculation on the volatile international oil market since the Middle East conflict erupted. He clarified to La Nacion that the buffer is neither a fixed price arrangement nor a subsidy, emphasizing the buffer's purpose is not to cap prices but to maintain their current levels.