Petrobras reduces the price of natural gas sold to distributors, starting from Monday | Economy

The price of natural gas that Petrobras sells to distributors will be cheaper as of Monday (1st). According to an announcement from the oil company last month, the adjustment represents an average drop of 8.1% in prices, and is part of a quarterly update stipulated in the contract.

Also, according to Petrobras, the decline also reflects changes in fuel prices, linked to fluctuations in Brent oil (the main international price reference), exchange rate and pipeline transport.

According to the company, oil fell by 8.7% and the exchange rate rose by about 1.1% in the reference month.

The part of the price related to gas transportation is updated annually in May, and is related to the change in the General Price Index – Market (IGP-M). The update will be around 0.2%.

With this update, the price of natural gas that Petrobras sells to distributors will be down approximately 19% on the year.

See note issued by Petrobras In full April:

a Petrobras It is reported that as of 05/01/23, according to the contracts agreed by the Company with distributors, the updated natural gas sales prices will have an average decrease of 8.1% in R $ / m³, with respect to February-March. – April, taking into account the variance in the price of the molecule and its transportation through the pipelines.

Contracts with distributors provide quarterly updates of the price portion of the gas molecule and relate this variance to fluctuations in Brent Oil and the exchange rate. During the respective quarter, oil fell by about 8.7% and the exchange rate rose by about 1.1%. The portion of the price related to gas transmission is updated annually in May, correlating with the IGP-M change, and will be updated by approximately 0.2% from May 2023.

With this update, the price of natural gas sold before Petrobras For distributors, a reduction of approximately 19% per year will be accumulated.

a Petrobras He points out that the final consumer price of natural gas is determined not only by the company’s selling price, but also by each distributor’s supply portfolio, as well as by their margins (and in the case of CNG-Gás Natural Veicular, service stations for resale) and federal and state taxes.

In addition, consumer tariffs are approved by government regulatory agencies, subject to specific laws and regulations. The company points out that the update announced on 01/05/23 does not refer to the price of liquefied petroleum gas (kitchen gas) that is packaged in cylinders or sold in large quantities.