economy
Oil firms hike fuel prices again on April 7
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Oil companies raised fuel prices again on Tuesday, April 7, 2026, with diesel hikes up to P19.80 per liter. The increases stem from ongoing US-Iran tensions and global oil supply disruptions. This marks the 13th to 15th consecutive weekly rise.
In response to diesel shortages triggered by Middle East conflicts including recent attacks on Iran, South Africa's Department of Mineral Resources and Petroleum has begun a comprehensive review of the fuel pricing mechanism. Reforms to industry margins are targeted for March 2027, with a temporary R3 per litre fuel levy cut providing short-term relief amid rising global oil prices.
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Oil companies implemented major fuel price hikes effective April 7, pushing diesel prices past P140 to P150 per liter in several areas. The increases stem from volatility in global crude markets reacting to Middle East conflict. These mark historic highs despite staggered adjustments.
In the last long weekend of the year, nearly 1.4 million tourists traveled across the country, spending around 250 billion pesos, according to a survey by the Argentine Confederation of Medium-Sized Enterprises (CAME). This marks a 43.5% increase in the number of people compared to 2023 and a 20.1% rise in spending.