Fuel prices in Paraguay begin to rise due to Middle East war effect
Fuel prices at private distributors in Paraguay, particularly diesel, used for transport and agricultural activities, have increased in recent weeks between 26 and 22 cents per dollar due to the Middle East conflict, while prices at the state oil company remain unchanged, according to experts, to contain a potential rise in the cost of living.
TL;DR
- Private fuel distributors in Paraguay have raised diesel and gasoline prices by 26 and 22 cents per dollar, respectively.
- The price increase is attributed to the conflict in the Middle East and issues with replenishment and logistics.
- Diesel prices have risen by 21%, reaching $1.22 per liter, while 88-octane gasoline increased by 10.8% to $0.99 per liter.
- Private gas stations, which distribute 80% of Paraguay's fuel, reported sales drops of 10-15% after the price adjustments.
- The state oil company, Petropar, which supplies the remaining 20%, has not increased its prices, acting as a price stabilization fund.
- Petropar's sales have increased by 20% due to stable prices, potentially reducing its product reserves.
- Inflation in Paraguay was 0.6% accumulated in February, with an interannual rate of 2.3%, below the year's target of 3.5%.
- Petropar may be forced to raise prices if extreme conditions arise in the global market.