Argentina raises ethanol prices in August for oil refiners

08.08.2016

Argentina's energy ministry Friday authorized increases in ethanol prices for oil refiners to blend into gasoline, effective August 1.

Refiners must pay Peso 13.335/liter (90 cents/liter) for supplies of sugarcane-derived ethanol this month to meet a 12% blend requirement in gasoline, the ministry said.

That is up 38.5% from Peso 9.628 in August 2015 and 2.3% more than Peso 13.042//liter in July.

Corn-based ethanol prices were raised 70% to Peso 12.555/liter in August from Peso 7.402/liter in August 2015, and were increased 0.7% from Peso 12.473/liter in July, it said.

The biggest oil refiner is state-run YPF, trailed by Axion Energy, Shell, Oil Combustibles and Pampa Energia.

Argentina's ethanol production rose 15.7% year on year to 196,720 mt in the first quarter, while consumption rose 8.3% to 212,665 mt, according to the latest energy ministry data.

 


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