Argentina

Argentina's motorists are now subsidizing the oil industry.


Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices.

Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices. However, with the crash in prices since mid-2014, the effect of the regulation has reversed: motorists are now effectively subsidizing the oil industry.