Key insights
- Argentina's increase in biofuel prices could contribute to global inflationary pressures, albeit marginally. Higher energy costs can impact transportation and agricultural sectors, potentially leading to slightly higher prices for US consumers. The effect is limited due to Argentina's relatively small share of global biofuel markets.
Investing.com -- Argentina has raised prices for biofuels in the domestic market, according to two resolutions published Monday in the official gazette.
The Energy Ministry set the minimum price for sugarcane-based bioethanol at 1,005.872 pesos ($0.72) per liter, up from 1,000.868 pesos per liter.
The price for corn-based bioethanol rose to 921,910 pesos per liter ($0.66), compared with 917,323 pesos.
The price of biodiesel for mandatory blending with diesel was set at 1,808.425 pesos per metric ton ($1,294.50), up from 1,808.690 pesos.
The changes took effect Monday and will remain in effect until a new price is published.
Argentina is a major producer of biofuels, particularly biodiesel, and regularly raises prices for the domestic market.
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