Memes that have arisen on social networks due to the rise of

Like all events that generate public interest, be it sports results, related events, or decisions that affect people's daily lives, the memes were the order of the day after announcing a sharp rise in gasoline and fuel prices that were surprisingly announced at midnight on Sunday.

With the typical creativity that appears spontaneously, social media users in Argentina have multiplied graphic and audiovisual creations, humorously referring to the presentation of the YPF, and later other companies such as Shell and Axion raised the average price of fuel. For the premium category, it is 9.5% basic and 11.5% on average.

According to the state-owned company, the adjustment was based on the evolution of the main variables that make up retail prices, in particular, the increase in international oil costs and demand levels before the pandemic, when imports had to compensate for local supply. The impact of Russia's invasion of Ukraine, which triggered the international value of crude oil, was decisive for the change in suppliers.

In this regard, the company noted that oil has increased significantly in recent weeks, reaching record levels (50% higher than its value in early February 2022).

In addition, the YPF stressed that the international price of fuel that complements the local supply has risen significantly above crude oil.Therefore, they said they will continue to monitor the evolution of variables affecting price formation “taking into account the macroeconomic situation of the country and the particularity of international reality.”

The last increase that the company announced was 9%, and it began to take effect even in the context of a steady increase in global energy costs at the beginning of last February.

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In March 2021, the YPF reported that a 15% phased adjustment would be applied over a three-month period to fund the investment during that year.The first average 7% increase was applied on March 16, and a second 6% increase in April. The increase was differentiated. The city of Buenos Aires was higher and the interior was lower.

In recent weeks, international energy prices have skyrocketed after Vladimir Putin's invasion of Ukraine and sanctions imposed on Russia, one of the world's leading oil and gas producers. The Brent oil barrel, which is used as a reference for Argentina, hit $130 this week, and closed close to $111 on Wednesday.

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On the other hand, this Tuesday, it was reported that inflation accelerated again in February, reaching 4.7%. In this way, as Indec reported on Tuesday, it accumulated 52.3% fluctuations over the past 12 months. The first two months of the year began this way with a high inflation index, since in January the CPI reached 3.9%, which began to question the validity of the official outlook agreed by the government and the IMF. By 2022, the limit of 48% was reached.

In this way, the price increase for the second month of the year was higher than expected by private consultants, which was expected to be 4%. Food has once again played an important role in inflation in February as it increased by 7.5%. In this regard, the government is analyzing measures such as increased withholding of some agricultural products to “separate” domestic prices from the impact of international food values caused by the war in Ukraine.

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According to the diagnosis of the Ministry of Economy, the price showed the immediate impact of the war conflict in Eastern Europe. “This indicator was affected by the impact of rising international prices for major commodities due to droughts and disputes in Ukraine,” the Ministry of Finance said. However, the invasion of Russia began on February 24, four days before the end of the last CPI month.

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“Fruits and vegetables recorded double-digit increases in almost all regions. The most affected items were dairy products, an increase of between 6.0% and 8.0%, depending on the region, bread and cereals, meat and derivatives between 3.7% and 5.8% per month, which increased by approximately 5.0% per month.” The Ministry of Economy analyzed.

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Transportation was another item that increased above the average (4.9%): household goods (4.4%), miscellaneous goods and services with restaurants and hotels (4.3% each), health (3.6%), clothing and footwear (3.4%), housing, water, electricity and gas (2.8%), alcohol and tobacco (2.7%), education (2.6%), recreation and culture (2.3%), and communications (1.5%).

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