Argentina’s government hiked the price of biodiesel for domestic consumption, aiming to keep its price just below the current high inflation rate. The ministry of economy retroactively established a value of 242,000 pesos ($1,449) per metric of biodiesel sold from Nov. 15-30, from a previous price of 220,000 pesos.
The value of biodiesel will be adjusted in subsequent months by 4% per month, in line with price guidelines the government seeks to replicate throughout the economy to tame inflation, which in October stood at 6.3% and could reach 100% this year. After the adjustments, the price of biodiesel will reach 283,106 pesos per metric in March.
