In the wake of an 8% increase in gasoline prices during the first two weeks of March, attributed to rising oil prices due to the war in the Middle East, YPF's CEO, Horacio Marín, downplayed the price hike. He characterized the increases as 'temporary' and emphasized that the company is only passing along the price impact to consumers when necessary. Marín argued that if the situation in the Strait of Hormuz becomes stable, there would be little to gain from raising prices significantly in a way that would not reflect true market conditions.

In his remarks, Marín asserted that YPF is monitoring the daily fluctuations of the Brent crude oil price, which saw a 3% increase to $102 per barrel. He insisted that the company is trying to maintain pricing within the margins established before the onset of hostilities in the Middle East. His comments reflect a broader strategy to manage consumer expectations and reinforce the idea that YPF is acting responsively to market dynamics rather than independently driving prices higher for profit.

Marín made these statements during a discussion at the Latam IEFA forum held at the Four Seasons Hotel, an event that connects various stakeholders in the energy sector. His role as both CEO and president of the state oil company adds significance to his insights as they indicate the company's current operational philosophy and its response to external economic pressures. This stance might influence public perception and consumer trust in YPF's pricing practices during fluctuating market conditions.