Argentina says fuel shortages should ease soon, imports arriving

Argentina says fuel shortages should ease soon, imports arriving
Argentina says fuel shortages should ease soon, imports arriving

Hello and welcome to the details of Argentina says fuel shortages should ease soon, imports arriving and now with the details

Nevin Al Sukari - Sana'a - The Argentine government and oil companies yesterday said fuel shipments that are starting to arrive that in coming days should ease a shortage, after a spike in demand caused long lines at gas stations. — Picture by Ahmad Zamzahuri

BUENOS AIRES, Oct 29 — The Argentine government and oil companies yesterday said fuel shipments that are starting to arrive that in coming days should ease a shortage, after a spike in demand caused long lines at gas stations.

Ten fuel shipments imported by the government are beginning to arrive, although distribution may take a few days, Energy Secretary Flavia Royon told a local radio station, noting that there would be no abrupt price increases.

Royon attributed the shortage in part to tourism during a long weekend and rumours of possible price increases following the October 22 presidential election. The run-off vote is November 19.

Advertisement

“It generated a psychosis of ‘you have to go and fill up the tank’” she said.

Argentine refineries supply 80 per cent of the local market while the rest comes from fuel imports.

Long lines at the pump have added to frustrations for Argentines already under the strain of an economic crisis with inflation close to 140 per cent and a currency that has lost 42 per cent in value this year.

Advertisement

Oil companies YPF, Raizen, Trafigura and Axion Energy in a joint statement on Saturday said the supply will be normalised in the next few days.

Among the factors causing the shortage, the companies cited high demand, the presidential elections, the beginning of crop planting and a higher than usual dependence on imports.

They also flagged “excessive demand caused by the expectation of a shortage.”

The diesel supply is of special concern to farmers, who say a shortage could impact the start of planting, key for the country’s major soy and corn crops. — Reuters

These were the details of the news Argentina says fuel shortages should ease soon, imports arriving for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV US, UK launch new wave of strikes against Yemen’s Houthis
NEXT FBI director warns that Chinese hackers are preparing to ‘wreak havoc’ on US critical infrastructure

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]