Argentina fuel firms aim to normalize supply after disruptions

Scarce supplies have forced many motorists to wait in long lines to fill up gas tanks, with some service stations rationing how much individuals could buy.

A fleet of more than 4,000 trucks have increased available fuel supplies by between 10-15%, with fuel supplies also benefiting from the arrival of five tanker ships with another two on the way, according to the statement from the biggest refiners and oil producers.

The fuel shortage was caused by a stoppage at a refinery operated by state oil company YPF, which was not able to make payments for imported fuels due to a central bank shortage of dollars, which are needed for imports.

YPF has increased the volume of fuels transported by an average of about 30% during the week of October 23-29, according to a company source. Also on Tuesday, the main oil workers union at Vaca Muerta, Argentina’s sprawling shale oil and gas formation, said it would for now suspend a strike that had been called for Wednesday.Asia’s manufacturers faced worsening pressure in October with factory activity in China slipping back into decline, clouding recovery prospects for the region’s major exporters already squeezed by weaker global demand and higher prices.

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