What are Argentina's current petrol prices in 2026?

Argentina's petrol (nafta) prices in 2026 are approximately ARS 1,200–1,500/litre for regular (Nafta Super, approximately 95 RON) and ARS 1,400–1,700/litre for premium. At the official exchange rate of approximately ARS 950–1,100/USD (as of mid-2026, following the Milei government's phased devaluation), this equates to approximately USD 1.10–1.45/litre — significantly higher than in 2023 when heavily subsidised prices were around USD 0.40–0.60/litre. Prices vary significantly by province and by forecourt operator (YPF state company vs private operators).

How has the Milei government changed Argentina's fuel subsidies?

President Javier Milei's government, which took office in December 2023, embarked on Argentina's most significant fuel subsidy removal programme in decades as part of broader fiscal austerity. Key changes: (1) Elimination of direct price controls on retail fuel — prices are now set by producers and distributors; (2) Phased removal of energy subsidies that previously kept retail fuel prices well below cost-recovery levels; (3) Liberalisation of YPF pricing — the semi-state oil company can now set prices more in line with international parity; (4) Peso devaluation — the initial 50%+ devaluation in December 2023 mechanically raised all fuel costs in ARS terms. The result: Argentine pump prices roughly tripled in ARS terms between 2023 and 2025, and more than doubled in USD terms.

Why is Vaca Muerta important for Argentine fuel prices?

Vaca Muerta is Argentina's vast shale oil and gas formation in the Neuquén province — one of the world's largest shale resources outside North America. As Vaca Muerta production scales (YPF targeting 200,000+ b/d crude output from Neuquén by 2027), Argentina's domestic crude supply increases, reducing import dependency. This has strategic significance for fuel prices: domestically produced crude at world-market prices is still cheaper than imported crude (no freight/insurance premium), and the government aims to use Vaca Muerta export revenues to stabilise the peso — indirectly supporting fuel price predictability. However, Vaca Muerta requires massive infrastructure investment; full impact on consumer prices will take years.

Argentina Fuel Prices 2026

Published 1 July 2026 · Updated 19 October 2026

Argentina's fuel market has undergone a dramatic transformation since 2023. Under decades of varying degrees of price control, Argentine petrol prices were kept artificially low — as little as USD 0.40–0.60/litre at official exchange rates during peak subsidy periods. The Milei government's shock liberalisation programme, combined with a substantial peso devaluation, pushed pump prices to USD 1.10–1.45/litre by 2026 — a level closer to international cost recovery but representing a significant real-terms burden on Argentine households amid high inflation.

For Latin American context, see our Latin America petrol prices analysis. For fuel subsidy reform economics, see our fuel subsidy reform guide and our fuel subsidy glossary entry.

Argentine pump prices 2026

Fuel	Price (ARS/l approx.)	Price (USD/l approx.)
Nafta Super (95 RON)	ARS 1,200–1,500	~USD 1.10–1.40
Nafta Premium (97–98 RON)	ARS 1,400–1,700	~USD 1.30–1.55
Gasoil (diesel, standard)	ARS 1,100–1,350	~USD 1.00–1.25
Gasoil Premium	ARS 1,250–1,500	~USD 1.15–1.40
GNC (CNG)	ARS 200–280/m³	~USD 0.18–0.26/m³

CNG (GNC — Gas Natural Comprimido) remains significantly cheaper than liquid fuels in Argentina, and the country has one of the world's largest CNG vehicle fleets (~2.5 million vehicles). This is partly a legacy of heavy CNG subsidies and partly Argentina's large domestic natural gas reserves. For CNG context, see our CNG glossary entry.

Milei's fuel subsidy removal programme

Year	Event	Price impact
Pre-2023	Kirchnerist price controls; fuel below cost-recovery	USD 0.40–0.60/l petrol
Dec 2023	Milei takes office; 50%+ peso devaluation; price controls removed	Immediate +70–90% in ARS; USD ~0.80–1.00/l
2024	Energy subsidies phased down; crawling peg FX regime	Prices gradually rise in ARS; USD ~0.95–1.20/l
2025–2026	Subsidy removal largely complete; market-set prices; inflation persists	USD 1.10–1.45/l; ARS prices rising with inflation

Inflation and the real fuel price
Argentina's consumer price inflation ran at 200%+ annually in 2023 and remained above 100% through 2024. While pump prices rose sharply in nominal ARS terms, in some periods fuel prices lagged inflation — meaning the real (inflation-adjusted) fuel price was volatile. For Argentine workers, the tripling of nominal fuel costs represents a major real income shock even after inflation adjustment. The IMF's 2024 Argentina programme conditions included sustained fuel subsidy removal as a fiscal consolidation measure.

YPF's role in Argentine fuel pricing

YPF (Yacimientos Petrolíferos Fiscales) is Argentina's majority state-owned oil company and the dominant fuel retailer with approximately 1,600 branded service stations. YPF sets a de facto reference price that private operators (Shell, Axion/BP, Raízen/Shell-Cosan) typically match or price relative to. Under Milei, YPF has been directed to move towards international parity pricing rather than acting as a social pricing tool. However, the government has at times jawboned YPF to delay price rises when inflation was politically sensitive — showing that full deregulation remains incomplete in practice.

Vaca Muerta and Argentina's fuel supply outlook

Vaca Muerta (Dead Cow) shale formation in Neuquén province holds an estimated 16 billion barrels of recoverable tight oil and over 800 TCF of shale gas — one of the world's largest resources. As of 2026:

Vaca Muerta crude production: approximately 160,000–180,000 b/d, growing rapidly
YPF, Pan American Energy, Vista Energy, and Tecpetrol are the major operators
The government has invested in the Vaca Muerta Norte pipeline to connect production to ports for export
Increased domestic production reduces Argentina's need to import crude — important for FX savings and fuel price stabilisation

For global shale context, see our US shale oil costs analysis.

Frequently asked questions

What are Argentina's current petrol prices in 2026? Argentine Nafta Super (95 RON) is approximately ARS 1,200–1,500/l (~USD 1.10–1.40/l) in 2026. Prices have roughly tripled in ARS since 2023 following Milei government subsidy removal and peso devaluation. CNG (GNC) remains much cheaper at ~ARS 200–280/m³, sustaining Argentina's large CNG vehicle fleet.: Argentine Nafta Super (95 RON) is approximately ARS 1,200–1,500/l (~USD 1.10–1.40/l) in 2026. Prices have roughly tripled in ARS since 2023 following Milei government subsidy removal and peso devaluation. CNG (GNC) remains much cheaper at ~ARS 200–280/m³, sustaining Argentina's large CNG vehicle fleet.
How has the Milei government changed Argentina's fuel subsidies? Since December 2023, the Milei government removed price controls, phased down energy subsidies, and devalued the peso by 50%+. Argentine pump prices roughly tripled in ARS terms and more than doubled in USD terms. YPF now prices closer to international parity rather than acting as a social pricing mechanism. The IMF programme required sustained subsidy removal as a condition.: Since December 2023, the Milei government removed price controls, phased down energy subsidies, and devalued the peso by 50%+. Argentine pump prices roughly tripled in ARS terms and more than doubled in USD terms. YPF now prices closer to international parity rather than acting as a social pricing mechanism. The IMF programme required sustained subsidy removal as a condition.
Why is Vaca Muerta important for Argentine fuel prices? Vaca Muerta is one of the world's largest shale resources (~16 billion bbls recoverable oil). Growing production (~160,000–180,000 b/d in 2026) reduces Argentina's crude import dependency, saving FX and providing a domestic supply base for refineries. Export revenues also support peso stability, indirectly dampening fuel price inflation pressures.: Vaca Muerta is one of the world's largest shale resources (~16 billion bbls recoverable oil). Growing production (~160,000–180,000 b/d in 2026) reduces Argentina's crude import dependency, saving FX and providing a domestic supply base for refineries. Export revenues also support peso stability, indirectly dampening fuel price inflation pressures.