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Paraguay will adjust fuel prices to the international market


Paraguay will adjust fuel prices to the international market

Asunción, Sep 17 (Prensa Latina) The reduction of Paraguayan fuel will depend on two new purchases of the country that will take advantage of the low price of the international market, the government reported.

Petróleos Paraguayos (Petropar) will import through the modality of ‘opportunity purchase’ both tenders, an initial one of 30,000 cubic meters and another in process of 20,000 cubic meters, the state-owned company told the newspaper ABC Color. The government based these purchases on the fact that the price of fuel is at 316 cents per gallon (3.78 liters), lower than the 340 cents per unit of a few days ago, the source said.

Petropar’s purchase request for the first 30 thousand cubic meters was for diesel oil from the U.S. firm Melville Capital Group, while the remaining 20 thousand cubic meters await a bidding process directed to 27 companies.

The opportunity purchase system, under Paraguayan Decree 5520, is a procedure that authorizes Petropar to decide on specific offers in order to operate with more economical results in the competitive oil derivatives market, the company explained. The private gas stations, for their part, announced in the last few hours a reduction in the price of gasoline, although diesel maintains its rates because it continues to be high on the international market. The government raised fuel prices in February, pressured by the world crisis, and since then has faced protests and road blockades by transporters, who are now negotiating an agreement with the authorities to lower the rates to 1,500 guaraníes (0.21 dollars).


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