translated from Spanish: Weekly report of variations in prices of fuels

According to the commercial policy of ENAP, the prices of the products marketed are determined by the price of parity of import using as reference a market close, deep and large scale as the American coast of the G olfo of Mexico (hereinafter, the Gulf Coast). In addition to this, incorporates the cost of freight to Chile and other costs, own import of refined fuels from oil activity.
Therefore, the prices of ENAP to the wholesale correspond to the alternative cost of imported fuels, typical of an open and competitive market such as the wholesale market in Chile, excluding neither costs nor the distribution, unlike margins of the that informs the National Energy Commission in its information system online prices of fuel at service stations.
Table N ° 1 arise, for the week of 11 to 17 April 2019, prices and variations of fuels derived from oil of ENAP to distributors. These prices include the increase in the price of 93 gasoline, and gasoline 97, as well as a decrease in the price of diesel, kerosene of the liquefied gas, product of the movements registered in the international market of the Gulf Coast, from Monday 25 of March to Friday, April 5, 2019, reference period for the calculation.
Also prices of ENAP and its variations considered the implementation of a 5-day average contractual exchange rate for clients of 670,47/us $, lower at $11.47 /USD with respect to the ENAP applied for the calculation of prices of the previous week.

(*) prices include transportation pipeline SONACOL from Concon at Maipú, 7.6 $/ lt, the application of the FEPP, specific taxes, MEPCO and VAT rate.
(*) price of LPG in bulk in Concon, only includes VAT. For the purposes of the application of the mechanism of stabilization of prices of fuels (MEPCO) adjusts this value whereas the rate by transportation pipeline SONACOL from Concon at Maipú ($6.3 /lt) and specific LPG for vehicle use tax: 1,4250 UTM per cubic meter. With respect to the specific gravity used to convert the price of $ / kg to $/ lt. its value is 0,518 kg/Lt.
The previous week it ended under a context in which the Organization of the petroleum exporting countries (OPEC) was announced a decrease in crude oil production for the fourth straight month. The 14 members of the OPEC production fell in 295 Mbd. This new production cut was driven almost entirely by Saudi Arabia, the largest Member of the group, which decreased production in 280 Mbd to the lowest level since February 2015.
In addition, unplanned production cuts of Venezuela and Iran, have also helped raise prices, but the trade war between two of the world’s largest economies and the signs of a slowdown in global growth, have limited additional earnings. In addition, the possibility of new sanctions by the United States towards Iran have helped push Brent prices above 70 dollars per barrel.
On Wednesday, April 3, the United States administration of energy (EIA) was unveiled a growth of 7.2 MMb in the inventories of crude oil in that country, and this is the second consecutive increase, mainly explained by a lower rate of utilization of the refineries, as well as an increase in imports, which were powered from Saudi Arabia, Mexico and Nigeria. Meanwhile, stocks of gasoline and diesel recorded a decrease in their inventories.
In addition, last Friday, April 5, the weekly Baker Hughes report announced an increase of 15 units of oil platforms active (rigs) in the United States, after 6 weeks of decline.
Table N ° 2, presents variations in prices of ENAP, and the distribution of these two components: the effect of the variation of the exchange rate, by one hand, and the combined effect of the variations in international prices of reference , the FEPP, MEPCO, and taxes, on the other hand:

(*) prices include transportation pipeline SONACOL from Concon at Maipú, $7.6 rate/Lt., the application of the FEPP, specific taxes, MEPCO, and VAT.
Already elapsed period of indexing for the next week, gasoline and intermediate prices have experienced an increase in the international market of the Gulf Coast. At the end of the present report, the ICE Brent is transaba to 71.6 US$ /bbl on the Intercontinental Exchange of London, superior US$ 2.9 /bbl the average of the reference week for the calculation.
Note: Using these reports and its web site, ENAP seeks only to provide relevant data for the fuel market. This report cannot be in any case considered a document which determines, fixed or defined references or values for the prices wholesalers or prices to the final consumer in the Chilean market, which are completely free, given its open-market condition, competitive and deregulated.

Original source in Spanish

Related Posts

Add Comment