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Argentina raises ethanol prices for oil refiners in August
DateTime: 2015-8-12 13:53:56    

Argentina's Energy Secretariat said Tuesday it has authorized an increase in ethanol prices by as much as 3.2% in August for oil refiners to blend it into gasoline.

Refiners must pay 9.628 pesos/liter ($1.04/liter) for supplies of sugarcane-derived ethanol this month to meet a 10% blend requirement in gasoline, the secretariat said on its website. That is up 2% from 9.437 pesos/liter in July.

Corn-based ethanol was raised to 7.402 pesos/liter in August, or 3.2% more than the 7.171 pesos/liter in July, it added.

The secretariat has said it will not allow ethanol prices to fluctuate by more than 5% per month. This decision has led ethanol producers to fear that profits could drop as fast inflation pushes up costs. Inflation is expected to be 30% this year, according to private estimates compiled by opposition lawmakers.

The biggest oil refiner is state-run YPF, trailed by Bridas' Axion Energy, Shell, Oil Combustibles and Petrobras.

Ethanol production rose 55% to 64,599 mt in March from 41,799 mt in the year-earlier period, and went up 25% compared with 51,625 mt in February, according to the latest numbers compiled by the national statistics institute Indec. Ethanol consumption rose 30% to 68,105 mt in March from 52,301 mt in March 2014, and was up 10% compared with 61,674 mt in February.

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