ANP: diesel price drops R$0.03 at gas stations – 03/24/2023 – Market

The diesel price cut at Petrobras refineries has not yet fully reached Brazilian service stations, according to the weekly survey of fuel prices by the ANP (National Agency of Petroleum, Gas and Biofuels).

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

On Wednesday (22), Petrobras reduced by 4.5%, or R$ 0.18 per liter, the price of the product in its refineries, with the average sale value rising to R$ 3.84. The small transfer, however, may reflect the schedule for capturing data by the ANP, which is concentrated at the beginning of the week.

At the end of Thursday night, the president of Petrobras, Jean Paul Prates, demanded transfers on social networks. “What’s up, distributors and service stations? Let’s reduce prices at the pump for citizens and for national freight?”, he questioned.

“Otherwise, our work is of no use! To go up, go up to ‘the smell’ of rumors; but to go down, it takes a loooong time… that’s wrong, right? Let’s follow along!”

It was the second diesel refinery price cut in his tenure. At the pumps, the product accumulates seven consecutive weeks of decline, reaching the lowest value since August 2021, in numbers corrected by the IPCA.

According to the ANP, the average price of gasoline in the country was R$ 5.51 per liter, down 0.5% compared to the previous week. It is the second week that it has dropped after the rise caused by transfers from the resumption of federal tax collection, starting on the first day of March.

Since the week before the tax increase, however, the price of fuel has accumulated an increase of R$ 0.43 per liter, well above the R$ 0.26 estimated by the market — considering that the new rate is R$ 0.47 per liter. liter and Petrobras cut its selling prices by R$0.13 per liter to minimize the increase.

The rise has already had an impact on inflation: this Friday, the IBGE showed that the price of gasoline negatively offset the drop in food prices in the calculation of the IPCA-15, the preview of official inflation, which ended the month at 0.69%.

The price of ethanol also dropped 0.5%, to R$3.92 per liter, according to the survey carried out by the agency. It is also the second consecutive week of lows, after highs with the resumption of federal taxes. In the first week of recovery, the product rose at the pumps much more than expected.

The increase was R$ 0.09, almost five times the value of taxes. For the sector, mill owners took advantage of the high gasoline to recover lost margins during the period of lower prices of the competitor.