ANNOUNCEMENT 15 Aug 2018
The Government of Argentina increased the price of biodiesel purchased by oil companies to local producers.
NUMBER OF INTERVENTIONS
InfoLeg. Ministerio de Energía. Subsecretaría de Recursos Hidrocarburíferos. Resolución 96/2018. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/310000-314999/313478/norma.htm
InfoLeg. Ministerio de Energía. Subsecretaría de Recursos Hidrocarburíferos. Disposición 1/2018. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/310000-314999/311969/norma.htm
On 15 August 2018, the Ministry of Energy of Argentina has adopted Resolution 96/2018 increasing the price of biodiesel that oil companies have to pay to biodiesel producers.
The new price has increased from ARS 20,944 (USD 695.93 at the time of the announcement) ARS 22,095 (USD 734.18 at the time of the announcement) per tonne.
Due to the compulsory requirement to use at least 10% of biodiesel in fuel blends locally produced imposed via Resolution 390/2014, this increase in the prices of biodiesel suggests that this intervention is intended as a price support to domestic biodiesel producers.
The new legislation has a retroactive character and it applies for sales made as of 1 August 2018.