November 28, 2022
Adjustment of fuel prices for distributors effective on Saturday |  Economie

Adjustment of fuel prices for distributors effective on Saturday | Economie

New hikes in gasoline and diesel prices sold to distributors come into effect on Saturday (18). The amendment was announced on Friday before Petrobras.

Average selling price of gasoline in Petrobras For distributors, it goes from R$ 3.86 to R$ 4.06 per liter (Highest level 5.18%). For diesel, the average selling price is Petrobras For distributors from 4.91 R$ to 5.61 R$ per liter (above 14.26%).

Diesel has not been modified since May 10 – 39 days. The last hike in gasoline prices was actually on March 11 – 99 days ago. LPG prices will not change.

Discharge was discussed at an extraordinary meeting of the Board of Directors Petrobras Thursday.

During the meeting, according to Valdo Cruz’s blogAnd government-linked advisers tried to persuade the company to keep the increase. But the board reported the content of talks with the government in recent days, when President Jair Bolsonaro’s team refused to grant a subsidy to the state-owned company and to private importers to bring in the most expensive diesel fuel abroad and sell it in Brazil at a lower value.

Understand the rise in fuel prices

In the note announcing the modification, the . file Petrobras It states that the global energy market is currently going through a “difficult situation”, due to the recovery of the global economy and the war Ukraine.

The state-owned company also notes that it is “sensitive to the moment that Brazil and the world are facing and understands the effects of fuel prices on the lives of citizens,” and that it has sought to balance its prices with world prices. The market, without the immediate passage of external price fluctuations and exchange rates.

“However, when there is a structural change in the world price level, it is necessary to have Petrobras seeking convergence with market prices,” the note states, suggesting that, otherwise, there may be a risk of an internal deficit.

It should be noted that the final value of fuel prices at the pumps also depends on taxes and profit margins of distributors and sellers.

According to the ANP, the The average price of petrol in the country was R$7,247 In the week ending the eleventh. Diesel at a price of 6,886 Brazilian riyals.

Conference This week approved the draft limiting the tax rate on the circulation of goods and services (ICMS) on fuel, energy, natural gas, communications and public transportation. This measure is one of the federal government’s attempts to lower fuel prices in an election year.. To take effect, it now relies on a presidential sanction.

Concerned about rising fuel prices in an election year, President Jair Bolsonaro has been lobbying Petrobras Failure to pass the rise in global oil prices to the pumps. Since 2016, the state-owned company has adopted a pricing policy for its refineries that is guided by fluctuations in the price of a barrel of oil on the international market and the exchange rate.

Brent oil, the main international benchmark, has already gained more than 60% during the year, ending Thursday (16) at $120.95 a barrel.

Understand how Petrobras' pricing policy works

Understand how Petrobras’ pricing policy works

fuel adjustment