Overview
- Retail fuel sales fell 6.4% year‑on‑year in July 2026, marking a sixth straight monthly decline and leaving January–July volumes down about 2.1% versus 2025.
- The decline hit most products and provinces unevenly, with nafta Súper down 7.8%, gasoil G2 down 7.0%, and eight provinces showing double‑digit falls including Tucumán (-22.4%), Jujuy (-16.4%) and Salta (-15.9%).
- Upstream production reached a record 916,200 barrels per day in July 2026, led by Vaca Muerta at 643,100 b/d, which now supplies more than 70% of national crude output.
- Rising crude volumes supported a sharp export surge — crude shipments totaled about US$5.72 billion January–July — while service stations report squeezed margins from weaker demand, higher costs, cross‑border price gaps and growing use of alternatives like GNC and electric vehicles.
- Sector officials warn that bottlenecks in pipelines, storage and export terminals could limit turning extra production into steady exports, making near‑term infrastructure and policy choices decisive for investment and regional station viability.