Overview

• Long lines formed at gas stations throughout Argentina due to surging demand that outstripped supply ahead of the presidential runoff election.
• Amidst the shortages, presidential candidate Sergio Massa threatened to stop oil exports if the situation did not normalize; while his opponent, Javier Milei, criticized the government's leftist policies as the root cause.
• The oil companies blamed the fuel deficit on unrelated recent events and ensured the public of their robust capacity to produce.
• Massa accused the oil companies of holding onto stock in anticipation of price increases surrounding the election, while Milei blamed the government's price controls.
• Argentina usually imports approximately 20% of its domestically used refined fuel, however, lack of dollar reserves caused delays.