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Fuel prices in Argentina: the dominance of currency values

2017-03-17 00:46:52 publish:
(December 05, 2016) 

The chart shows the level of gasoline and diesel prices in Argentina from March 2014 to November 2016 as well as crude oil prices (Brent) and the USD/Argentine peso exchange rate.

Clearly, the dominant factor for fuel prices is the exchange rate. Fuel prices rapidly increased with the depreciation of the peso as the cheaper peso raised the cost of petroleum product imports. The decline in crude oil prices in the meantime did not lead to a decline in gasoline and diesel prices.