Petrobras cuts gasoline prices for the second time in a row, starting from Friday | Economie

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Wednesday last week, The oil company had already lowered the average price of gasoline by R$ 0.20. With the nine reduction, the fuel price is lower than the value at which it was sold on May 10 this year, which was R$3.86.

“This reduction comes in the wake of the development of reference prices that have stabilized at a low level for gasoline, and are in line with Petrobras pricing practices that seek to balance their prices with the global market, but without passing them on to internal fuel prices.” The company highlights.

The day before, Petrobras announced that the company’s board of directors had approved New Pricing Guidelines of your fuel. According to the company, the scale “includes an additional layer of oversight,” but does not change the current pricing policy, based on international price parity (PPI), and keeps adjustments under the responsibility of the Executive Board.

PPI was introduced by Petrobras in 2016, under the direction of Michel Temer. Since then, the company has tried to match the price of gasoline at the refinery with the world price. In other words, the adjustments are the result of fluctuations in oil prices and exchange rates.

But even with the decline in commodity prices, the exchange rate has not fallen. At the end of May, the trade dollar was priced at around 4.70 Brazilian Real. Today, it works around 5.20 BRL.

Sales prices of fuel to refineries by Petrobras are one of the factors in the formation of the final price of fuel, along with taxes and the share of distributors and sellers.

According to the announcement of the new price cut, Petrobras said that given the mandatory blend of 73% A gasoline and 27% anhydrous ethanol to make up gasoline sold at the stations, Petrobras’ share of the consumer price would be from R$2.81 on average to 2.70 R$ per liter sold at the pump—that is, the final price tends to fall by at least R$0.11.