Buenos Aires — Argentina has hiked domestic prices for bioethanol and biodiesel that are mandatory to mix with gasoline and diesel, the government said in the official gazette on Monday.
Amid high domestic inflation, which is running at an annual rate of about 50%, biofuel prices are periodically updated to remain competitive. The South American country is one of the world’s largest biodiesel producers.
The energy secretariat said in the official resolution that the price of bioethanol from sugar cane or corn for the mandatory mixture with gasoline was set at 59.35 pesos per liter (around $0.61), from a previous level of 55.663 pesos per liter.
The price of biodiesel was raised to 122,453 pesos per tonne ($1,251) for September for mixture with diesel, rising to 124,900 pesos for October and 127,400 pesos in November. The previous price, set in July, was 112,000 pesos per tonne.
- Reuters (Reporting by Hernán Nessi; Editing by Adam Jourdan; Editing by Edmund Blair)