PETROPERÚ details the differences between its list prices and the prices of service stations

Regarding journalistic reports that indicate that fuel prices in Peru would be the most expensive in the Region and journalistic comments that attribute such a situation to PETROPERÚ, the Company makes the following clarifications:

1. PETROPERÚ does not have its own faucets. The network identified with the PETROPERÚ brand corresponds to private service stations affiliated with the Company, but which set their prices freely, as indicated by the current legal framework.
2. In the case of PETROPERÚ's price lists at the level of its Supply Plants (wholesale), these have followed the same trend as international prices, so it is not true that PETROPERÚ is constantly increasing its prices to pay off its indebtedness, and therefore the country has the most expensive fuels in the region.
3. So far this year, the geopolitical conflict between Russia and Ukraine and the imbalance between global fuel supply and demand have increased international gasoline prices by up to 75% and the international price of Diesel by 77%, as can be seen in the following table:

Increase in international fuel prices on the Gulf Coast of the United States

In Soles/Gallon
Source: S&P Global Platts, 2022

4. In the same way, in the following table it can be seen that the variation in international fuel prices is reflected in the price list of Gasohol 97, Gasohol 95 and Gasohol 90 of PETROPERÚ in its Supply Plants. It should be noted that these fuels are not included in the Fuel Price Stabilization Fund (FEPC).
5. The same does not happen with Gasohol 84 and Diesel B5-S50 UV, where it can be seen that the variation in prices from January to June 2022 is much lower (10% and 34%, respectively) since these fuels are found included in the FEPC, which is an indicator of the government effort to mitigate the rise in international prices, especially Diesel, which represents 60% of the total fuel consumption in the country.

Increase in Fuel List Prices in Lima/Callao

Ex Plant Prices without taxes

In Soles/Gallon
Source: PETROPERÚ Price List, does not include discounts and taxes

* Gasohol 84 and Diesel B5-S-50 UV are in the Stabilization Fund

Additionally, in gasoholes 90, 95, 97 and 98 -which are not in the Fuel Price Stabilization Fund- there is a tax burden that is added to the fuel price. This tax burden can currently reach up to an estimated 34% of the price that is invoiced at the Supply Plants (driving tax of 8%, ISC and 18% VAT).

It should be noted that all Service Stations -including those with the PETROPERU brand- include transportation costs (freight), operating costs, as well as the profit margin of the taps, which, being free, may vary even in the same district. According to the Facilito portal, of Osinergmin, in the districts of the capital in the month of June, the consumer prices of gasoholes at service stations had strong variations.

It is very important to highlight that Indecopi and Osinergmin have been verifying that the country's taps comply with the rule decreed by the Government on the ISC exemption, transferring said reduction to the final sale price to the consumer. According to both regulatory entities, weeks after the rule was promulgated, 23% of the taps monitored at the national level by Indecopi and Osinergmin had not yet made the reduction in some of the fuels.

Finally, PETROPERÚ urges citizens to seek the most competitive price for fuel at Service Stations, for which they can use the website www.facilito.gob.pe, Osinergmin's platform.