June 4, 2023

Diesel prices drop and the Petrobras boss demands agility from the distributors to pass on the cuts

“To go up,” said Jean-Paul Pratis, “to go up to the ‘smell’ of rumours; but to go down, it takes time. It’s wrong, isn’t it? Let’s follow!”

Fuel and Jean-Paul Prats

energy agendaThe diesel price cut at Petrobras refineries has not yet fully reached Brazilian service stations, according to the weekly fuel price survey conducted by the National Agency for Petroleum, Gas and Biofuels.

This week, S-10 diesels were sold at the pumps, on average, at R$5.94, just 0.5%, or R$0.03 per litre, lower than the previous week.

On Wednesday (22nd), Petrobras cut the price of product in its refineries by 4.5%, or R$0.18 per liter, with the average selling price rising to R$3.84. However, the small transfer may reflect the timeline of data capture by ANPs, which are concentrated at the beginning of the week.

At the end of Thursday night, the head of Petrobras, Jean-Paul Pratiss, demanded transfers on social networks. “What’s the matter, distributors and service stations? Let’s lower prices at pumps for citizens and for national freight?” he asked.

Follow up on recommendations

“Otherwise our work is useless! To go up, to go up to the ‘aroma’ of rumours; but to go down, it takes a long time… That’s wrong, isn’t it? Let’s follow!”

This was the second diesel refinery price cut of his tenure. At the pumps, the product has accumulated six consecutive weeks of decline, reaching its lowest value since August 2021, in IPCA-corrected numbers.

According to the National Ports Agency, the average price of gasoline in the country was R$5.51 per liter, down 0.5% compared to the previous week. It’s the second week it’s been declining after a hike caused by remittances from resuming federal tax collection, starting on the first day of March.

Since the week before the tax re-legislation, the fuel price has accumulated R$0.43 per liter, which is significantly higher than the R$0.26 estimated by the market, considering the new price is R$0.47 per liter and Petrobras lowered its selling prices by R$0.13. Brazilian per liter to reduce excess.

The hike has already had an impact on inflation. This Friday, the IBGE showed that the price of gasoline negatively offset lower food prices in the IPCA-15 Calculation, the official inflation preview, which ended the month at 0.69%.

The price of ethanol also fell 0.5% to R$3.02 per liter, according to the agency’s survey.

with information from Newspaper.

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