Argentina's Energy Ministry authorized Tuesday an increase in ethanol prices for oil refiners to blend into gasoline in June from May.
Refiners must pay Peso 16.07/liter ($1.00/liter) for supplies of sugarcane-derived ethanol this month to meet a 12% blend requirement in gasoline, up 5% from Peso 15.305/liter in May, the ministry said.
The price of corn-based ethanol prices was raised 0.7% to Peso 12.942/liter in June from Peso 12.848/liter in May, it added.
The biggest oil refiner is state-run YPF, trailed by Axion Energy, Shell, Oil Combustibles and Pampa Energia.
