Argentina's Milei government targets up to 17% fuel price cut by September

The Argentine administration led by President Javier Milei expects fuel prices to fall as much as 17% at the start of September. The plan aims to keep pump prices stable for 45‑60 days, letting oil companies recover part of the margin they lost when they absorbed the earlier rise in international oil prices. The price reduction is tied to the recent correction in Brent crude, which returned to February‑level prices after tensions between the United States and Iran eased.

If implemented, the super‑unleaded gasoline price would drop from about $2.047 to around $1.699 per litre, while premium gasoline would fall from $2.244 to roughly $1.863. Officials argue that lower fuel costs would bolster consumer expectations and help further ease Argentina’s inflation rate, which they hope could approach zero by September. The plan also notes that the outcome will depend on exchange‑rate movements, international oil price trends, tax policy, and the status of other regulated prices. Discussions continue on the fuel tax component, which could affect how fully the anticipated price cut is passed on to consumers.