Petrobras says that “possible readjustments” of gasoline and diesel are analyzed

Petrobras informed, this Monday (31), that “possible readjustments” in fuel prices will be carried out “when necessary” according to analyzes of the international oil market. The signaling of a possible increase in gasoline and diesel prices occurred days after importers’ balance sheets pointed to a lag of up to 21% in the amounts charged at the pumps.

The state-owned company says that it has carefully observed the evolution of the price of oil in the foreign market, which already exceeds US$ 85, and that price adjustments are carried out “in the normal course of its business”.

“As disclosed on May 16, 2023, the Commercial Strategy for diesel and gasoline allows Petrobras to compete more efficiently, taking into account its market share, to optimize its refining assets, and profitability in a sustainable manner. Readjustments continue to be made without defined periodicity, avoiding the transfer to domestic prices of the conjunctural volatility of international quotations and the exchange rate”, said Petrobras in a statement (see in full).

The report by the Brazilian Association of Fuel Importers (Abicom) released this Monday (31) points out that the lag for gasoline is 21%, while for diesel it is 20% (see full text).

Last week’s lag is the first of the new pricing policy implemented by the president of the state-owned company, Jean Paul Prates, in mid-May. The so-called PPI, or Import Parity Price, had been in effect since 2016 and aligned the amount charged in the country with variations in the international market. The promise, at the time, was that the end of parity would bring prices down at the pumps.

The company says it recognizes the moment of “great uncertainty regarding the recovery of the global economy, which directly influences the demand for energy, and the supply of oil and fuels in general”. This, he says, led to an “increase in reference prices and volatility”.