Enap's Fuel Pricing Transparency Called Into Question

An economist, Jorge Hermann, has requested greater transparency from Enap regarding its fuel pricing methodology, particularly for gasoline and diesel. Enap holds a near-monopoly in gasoline sales with a 90% market share and a dominant position in diesel with 40%. Hermann argues that Enap's Import Parity Price (IPP) is not an external standard but a discretionary measure established by Enap itself in 1986. He disputes claims that the National Economic Prosecutor's Office (FNE) validated this methodology, noting that a 2013 investigation only modified contractual clauses, not the pricing method. Hermann points out that Enap's IPP is not fully transparent because its price is revealed with a delay relative to the weekly report it originates from. Furthermore, it is not reliably replicable by third parties, as it relies on private data from Platts, unpublished freight and insurance costs, and an exchange rate with an undisclosed currency hedging component. In contrast, Hermann states that the MEPCO's IPP, developed by the CNE, is reasonably replicable. He urges Enap to fully disclose its methodology due to its significant market power and suggests aligning Enap's information sources and calculation methods with MEPCO's to eliminate unjustified price discrepancies.