Free Oil Market to Reign in Argentina, New Energy Minister Says
- Nation won’t fix any more agreements for crude, fuel prices
- Minister Iguacel also plans to ditch state power intermediary
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Argentina’s move to a free market for energy prices remains on track.
A recent decision to cap crude oil prices and limit fuel price gains in order to stem inflation was an outlier, according to Javier Iguacel, the nation’s new energy minister. Restricting crude price increases only extinguishes competition and, in turn, the possibility of cutting costs, he said.