Diesel price at gas stations drops R$0.08 with pass-through of cuts at refineries – 03/31/2023 – Market

With transfers from the cut promoted at Petrobras refineries, the price of diesel fell 1.3%, or R$ 0.08 at Brazilian service stations this week. According to the price survey by the National Agency of Petroleum, Gas and Biofuels), diesel S-10 was sold, on average, at R$ 5.86 per liter.

It is the eighth consecutive week of decline, a reflection of two cuts promoted by the state-owned company since the beginning of President Jean Paul Prates’ management. This week’s average price is the lowest since January 2022, in values ​​corrected by the IPCA.

The price of diesel at the pumps, however, will suffer two pressure points in the coming weeks: at the beginning of this month, a new blend of biodiesel will come into force and, in May, a change in the ICMS collection model is expected.

In the first case, the government projects an impact of R$ 0.02 per liter. In the second, the effect is greater, since the new rate, of R$ 0.95 per liter, is higher than the average currently practiced.

The ANP found the cheapest diesel-S10 in Brazil in Leme (SP), at R$ 5.09 per liter. The most expensive was found in the capital of São Paulo, at R$ 8.49 per liter.

According to the ANP survey, gasoline was sold at an average price of R$5.48 per liter this week, down 0.5% (or R$0.03) compared to the previous week. It is the third straight retreat after the rise caused by the resumption of federal taxes, at the beginning of the month.

Since the week before the tax increase, however, the price of fuel has accumulated an increase of R$ 0.40 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 product will also be pressured by the change in the ICMS collection model, which takes effect, in this case, in June. This Friday (31), the states set the new rate at R$ 1.22 per liter, lower than the R$ 1.45 initially projected.

The new ICMS model provides for the collection of a single national value in Reais per liter and only from fuel producers and importers.

The changes still do not cover hydrated ethanol, which, according to the ANP, was sold this week at R$ 3.89 per liter. The value represents a drop of 0.7% (or R$ 0.03) compared to last week.