10 April 2013 22:07 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Argentina's ministry of economy and public finances announced on Wednesday that it is freezing the price of fuels as a way to control inflation, a government news agency said.
Under the measure, which takes effect immediately, fuel retailers cannot increase fuel prices for the next six months.
"The highest price of commercialisation of [fuels] [that] will be applied to all fuel retailers, starting from the validity of this resolution, will be the highest price of 9 April of this year," said the government on Boletin Oficial, Argentina's official gazette.
According to Argentina's government news agency Telam, Osvaldo Cornide, president at Argentine Confederation of Medium-sized Companies (CAME), said the measure would "prevent inflation".
"The price of fuels influences directly or indirectly in all economy," he said.
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