Petrobras announces a reduction of R$0.12 in gasoline and an increase of R$0.25 in diesel

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Type A gasoline will be sold at R$2.81 per liter to distributors. Diesel will be sold at R$4.05. Changes come into effect next Saturday. Petrobras headquarters building, in the center of Rio Marcos Serra Lima/g1 Petrobras announced this Thursday (19) that it will reduce the average price of type A gasoline sold to distributors by R$0.12 per liter. With the change, which takes effect next Saturday (21), the fuel will be sold by the oil company at R$ 2.81 per liter. The company also announced an increase of R$0.25 per liter in type A diesel, starting to charge distributors R$4.05 per liter. According to the oil company, its sales prices for both gasoline and diesel have fallen this year. In the case of gasoline, the reduction is R$0.27 per liter and, for diesel, R$0.44 per liter. “The commercial strategy we adopted during this administration has proven to be successful, especially in terms of making Petrobras competitive in the market and at the same time avoiding passing on volatility to the consumer”, stated the company’s president, Jean Paul Prates. Guerra between Israel and Hamas: oil prices soar and the market fears impacts on inflation The oil company announced changes to its pricing policy in May this year. Since then, the state-owned company no longer follows the international parity policy (PPI), which readjusted the fuel prices based on variations in the dollar and oil prices abroad. The company explained that its prices for distributors would be in the range between: the highest amount that a buyer can pay before wanting to look for another supplier; and the lowest value that Petrobras can make in the sale while maintaining profits.However, despite Petrobras producing a large part of the gasoline and diesel consumed in Brazil, the country still depends on imports – whose prices are defined according to international prices. When there are large discrepancies between the value on the international market and the domestic price, import activity is no longer economically attractive for some companies, and this puts pressure on supply. In this Thursday’s statement, Petrobras stated that the new strategy helped to mitigate “the effects of volatility and the abrupt rise in external prices”. It is worth remembering that the prices charged by the oil company are not the same as those at gas stations. Prices at the pumps also take into account taxes and the profit margin of distributors and resellers. Conflict in the Middle East and rising oil prices The Petrobras statement was released amid the conflict between Israel and Hamas, which has caused an increase in oil prices on the international market. On Wednesday (18), the Minister of Mines and Energy, Alexandre Silveira, spoke about the subject and ruled out the risk of fuel shortages in Brazil due to price increases. “Petrobras has been fully responsible for the issue of fuel supply in Brazil. In fact, this responsibility lies with the Ministry of Mines and Energy, to maintain product quality and guarantee supply”, he declared. Brent oil – used as a reference in the market – was trading at around US$93 this Thursday, an increase of almost 10% since the start of the war in the Middle East. With information from Lais Carregosa*

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