Argentina Accuses Shell of Conspiracy After Price Increase
This article is for subscribers only.
Royal Dutch Shell Plc’s Argentine unit was accused of conspiring against the country’s interests by Cabinet Chief Jorge Capitanich after the oil producer increased fuel prices following a devaluation of the peso.
Shell boosted prices an average 12 percent at its service stations, which represent 18 percent of the Argentine market, the company said in an e-mailed statement published by local newspapers today. The company’s previous price increase of 6.8 percent was on Jan. 2, before Argentina moved to weaken the peso 15 percent from Jan. 22 to Jan. 23, the largest drop since 2002.