Fuels have federal taxation again from this Wednesday (1st)| Photo: Gazeta do Povo/Archive

Petrobras will reduce by R$ 0.13 the average price of gasoline sold at distributors starting this Wednesday (1st), going from R$ 3.31 to R$ 3.18 per liter. The measure was taken in the early afternoon of this Tuesday (28) a day after the government decided to reinstate the burden of taxes such as PIS, Cofins and Cide.

The reduction will also be valid for diesel, which will go from R$ 4.10 to R$ 4.02 per liter at distributors – R$ 0.08 less than the practiced price.

According to the state-owned company, the decision to reduce prices at distributors is due to the “search for the balance of Petrobras prices to the national and international markets”, in addition to “avoiding the pass-through of the conjunctural volatility of quotations and the exchange rate”.

The reduction in prices at distributors also comes a day after the Minister of Finance, Fernando Haddad, said that the government can use Petrobras’ “cushion” to “reduce or raise the price of fuel, and it can be used”.

This “cushion” is the difference in the scope of the International Parity Price (PPI), which is positive by 4.73% according to data from the Daily Gap Analysis published this Tuesday (28) by the Brazilian Center for Infrastructure and Energy.

Still this Tuesday (28), in the late afternoon, the economic team will disclose the new tax rates that will be levied on fuels as of Wednesday (1st).