Argentina

Argentina set the oil price for drillers at USD 56 per barrel, notably below global rates, to curb inflation following currency devaluation. Brent crude contrasts starkly at USD 84. Amid a peso downturn, fuel prices have been frozen after significant hikes by refiners like YPF. With inflation at 113% YoY in July, the upcoming presidential candidate, Massa, aims to prevent devaluation effects from surging consumer prices.