(Via: Wikimedia Commons)

After Argentina’s national oil company YPF raised gas prices on Tuesday, the British-Dutch multinational Shell followed suit today, raising its prices between 3 and 3.5 percent.

A liter of super oil will go from AR $23.98 to AR $24.68, while premium will go from AR $27.99 to AR $28.97. Diesel will go up from AR $21.47 to AR $21.80, while premium diesel will increase from AR $23.98 to AR $24.68.

The impact on inflation has not yet been measured, as January’s increases have not yet affected the monetary policy. The combination of crude oil prices increasing and the devaluation of the peso increased costs at least 20 percent, according to the oil companies, which is what prompted the rise.

Axion (former Esso) has yet to announce whether they will follow (or rather, when?) the price increases, but it’s unlikely that this will last.