Argentina to import gasoline for first time in 30 years

Buenos Aires, March 10 (IANS/EFE) Argentine oil company YPF has said that it plans to import 50 million litres of gasoline as demand outstrips supply in the South American nation.

Argentina, an oil-producing country where fuel is subject to government price controls, has not imported gasoline in 30 years.

"Everyone is putting less fuel on the market, except YPF," Corporate Communications Director Sergio Resumil said Tuesday, blaming his firm's domestic competitors for the shortage.

He said YPF, the Argentine subsidiary of Spain's Repsol, is turning to imports as an "exceptional" measure and that the 50 million litres represents a little more than a month's supply.

Resumil said the other firms in the Argentine fuel sector - Brazil's Petrobras, Esso and Royal Dutch Shell - reduced both oil production and refining here by 200,000 cubic metres in January and February.

Moreover, he said, YPF has secured 56 percent of the market by undercutting its competitors on price, and he sought to reassure consumers that the company can meet Argentina's needs.

"There is gas and there is fuel, people just have to have a little patience," Resumil said.