Gasoline has a slight decrease after two weeks of increase with federal tax pass-through – 03/17/2023 – Market

The average price of gasoline in the country retreated after two weeks of highs with the transfers from the resumption of federal tax collection. According to the ANP (National Agency of Petroleum, Gas and Biofuels), the fuel was sold, on average, at R$ 5.54 per liter this week.

The value is 0.5%, or R$ 0.03 per liter, less than the previous week. The fall, however, still does not compensate for the transfer of taxes: since the week before the tax recovery, the price of fuel accumulates high of R$ 0.46 per liter, or 9%, at gas stations.

The accumulated transfer is well above the R$ 0.26 estimated by the market, considering that the new rate is R$ 0.47 per liter and Petrobras cut its selling prices by R$ 0.13 per liter to minimize the increase .

The price of fuel has also been pressured by the ICMS, since the calculation of the reference price has been unfrozen and states are already starting to raise the base rate of the tax.

The ANP found the most expensive gasoline in the country in São Paulo, at R$7.19 per liter. The cheapest was found in Diadema (SP), at R$ 4.47 per liter.

According to the ANP, the price of diesel S-10 also fell by 0.5%, or R$0.03 per liter, this week, to R$5.97 per liter. It is the sixth week in a row of decline, with cuts promoted by Petrobras in the selling price of its refineries.

The average value of S-10 diesel this week is the lowest since August 2021, considering period inflation.

The product, however, will be pressured in April with the new single ICMS rate, which is higher than the current one, and with the increase in the blend of biodiesel to the product sold at gas stations from 10% to 12%, announced this Friday. (17) by the government.

According to calculations by the MME (Ministry of Mines and Energy), the increase in the blend of biofuel will represent an increase of two cents in the final price of diesel.

On the other hand, Petrobras has been working with some margin on the import parity, an indicator that simulates how much it would cost to import the product, which may open space for price reductions in refineries.

According to Abicom (Brazilian Association of Fuel Importers), the average price of diesel at Brazilian refineries was R$ 0.18, or 5%, above parity at the opening of the market this Friday.

The price of hydrated ethanol dropped 0.5%, or R$0.02 per liter, this week, reaching R$3.94 per liter.