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Bencinas continue to spin and reach their lowest price in eight months | economy

National Petroleum Company (ENAP)) announced the prices that will register fuel as of this Thursday, which will be shifted to the bottom thanks to the price of the dollar and the Fuel Price Stabilization Mechanism (Mepco).

According to the state-owned company, for the period from January 31 to February 6, a liter of gasoline 93 octane will drop by 5.8 dollars, reaching 708.3 pesos as a guide, marking its fifteenth loss in a row.

Same change registered 97 octane, which reached 729.1 pesos per liter in the fourteenth week, with 5.8 pesos on the downside. dieselMeanwhile, 5.8 pesos will also drop, noting 529.9 pesos per liter.

Unlike kerosene mark an increase of $ 3.7, reaching 496.4 pesos per liter.

And in the same line, liquefied gas (LPG) will mark an increase of 6 pesos, remaining at 213.3 pesos.

According to this scenario, benzene with an octane rating of 93 will fall by 15 weeks, with an accumulated drop of -86.4 pesos over this period, after a long period of growth, which raised the price by 50.3 pesos for 10 weeks last year. ,

Meanwhile, gasoline with an octane number of 97 captures its fourteenth loss in a row and already accumulates a drop of -73.8 pesos after its cumbersome growth of 43.4 pesos, which lasted for nine weeks in 2018.

Thus, both reached their lowest prices since the last week of May 2018.

International volatility

The ENAP explained that after several days in which oil prices were constantly moving, volatility returned to the markets. Concerns about a possible oversupply of products, a slowdown in the growth of the Chinese economy and recent projections by the International Monetary Fund (IMF) were key factors in the current context.

The rapprochement between the presidents of the United States and China, Donald Trump and Xi Jinping, respectively, also helped reduce concerns about a possible overabundance of global oil reserves. The market learned that there is a possibility that the United States will reach a trade agreement with China in the next few days, ”they said.

In particular, the IMF predicts that the global economy will grow by about 3.5%, which is 0.2% less than predicted in October 2018. This economic weakening will be mainly due to the establishment of tariffs on imports from China and part of the United States in 2018, forcing both countries to wage a commercial war that has significantly shaken the markets.

“Changes in environmental standards of different countries also affected these figures,” the state said.

Prices correspond to ENAP reference values, which seek to provide only relevant information for the fuel market, unlike those reported by the National Energy Commission in its information system for online fuel prices.

In fact, the company indicates that it cannot be considered a document defining consumer values ​​in Chile, since they are completely free, since the Chilean market is characterized by openness, competition and deregulation.

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