Gasoline prices have a slight increase at stations, says ANP – 04/14/2023 – Market

The average price of common gasoline recorded a slight increase at Brazilian service stations for the second consecutive week, indicates a survey released this Friday (14) by the ANP (National Agency of Petroleum, Gas and Biofuels).

A liter of fuel cost an average of R$ 5.51 this week. The advance was 0.2% compared to last week’s R$ 5.50. The maximum price found by the ANP was R$7.19, and the minimum, R$4.45.

The government of Luiz Inácio Lula da Silva (PT) partially resumed the collection of federal taxes on gasoline and ethanol in early March.

The measure came after the rates were zeroed by former president Jair Bolsonaro (PL) in an attempt to bring down prices at pumps on the eve of the 2022 election.

According to the ANP, the average price of hydrated ethanol reached R$ 3.90 at gas stations this week. There was an increase of 0.5% compared to R$ 3.88 in the previous survey. This was the first advance after four consecutive declines.

Gasoline tends to be pressured in the coming months by the change in the ICMS (state tax) collection model, which takes effect in June.

At the end of March, the states set the new tax rate at R$ 1.22 per liter, higher than the levels currently practiced in most parts of the country.

The ANP survey also pointed out that the price of S-10 diesel oil, the most used in Brazil, dropped by 0.2%. The average value per liter was R$ 5.83 this week, after the R$ 5.84 of the previous survey.

It is the tenth consecutive reduction. The downward movement reflects two cuts promoted by Petrobras in refineries since the beginning of President Jean Paul Prates’ management.

In March, gasoline exerted the main pressure on Brazil’s official inflation index, according to the IBGE (Brazilian Institute of Geography and Statistics).

Fuel advanced 8.33% in the IPCA (National Consumer Price Index) last month. The general index, in turn, rose 0.71% in the same period.