Prices of diesel, gasoline and cooking gas rise this Thursday due to an increase in ICMS; understand

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The 12.5% ​​increase comes after the resumption of federal taxes in January. States say that the increase will be implemented to compensate for inflation losses. The prices of diesel oil, gasoline and cooking gas will increase by around 12.5% ​​from this Thursday (1st) due to the increase in the Tax on the Circulation of Goods and Services (ICMS) in all states. See the new tax values, which will be valid until the end of 2024: gasoline: R$ 1.3721 per liter; diesel: R$ 1.0635 per liter; cooking gas: R$ 18.38 per 13 kg cylinder. Until Wednesday (31), the rates were: gasoline: R$ 1.22 per liter; diesel: R$0.9456 per liter; cooking gas: R$ 16.27 per 13 kg cylinder. The increase was deliberated by the National Committee of State Secretaries of Finance (Comsefaz) in October 2023. According to the Committee, the increase is justified by inflation in the period. Tax lawyer Yukio Toledo states that the value of the adjustment is related to the economy’s basic interest rate, the Selic, in the 12-month period before Comsefaz’s decision. “It would be a recovery of the value lost over time, since the Selic gave more or less 12% to 13% as well”, he states. ICMS on fuels increases throughout Brazil Today, the value of ICMS on fuels is a fixed value per liter – or kilogram, in the case of cooking gas. “In the past, before we had this agreement, each state determined a rate, then it was a rate of 12%, 18%, depending on the state where it was consumed. That’s why there was that thing about ‘how much does gasoline cost in the Northeast, how much does it cost in Brazil’, there was a huge price difference”, says Toledo. Federal taxes also rose Before the rise in ICMS, fuels had already become more expensive due to the resumption of federal taxation. As of January 1st, the following fuels increased due to the PIS/Cofins increase, whose rates were zero until December 31, 2023: diesel A: approximately R$0.35 per liter; biodiesel: approximately R$0.15 per liter; diesel B (mixture of diesel A and biodiesel): approximately R$ 0.33 per liter; cooking gas: approximately R$ 2.18 per 13 kg cylinder. February begins with an increase in gasoline, diesel and gas cylinders The main impact is on diesel, which also has an impact on the price of everything transported on the highways of the country, such as food, for example. Just before the increase in federal taxes, at the end of December, Petrobras reduced the price of diesel sold in its refineries by R$0.30 per liter. Considering the mixture of fuel with biodiesel, which is sold at gas stations, the reduction would be R$0.26 per liter – partially offsetting the increase in PIS/Cofins. Now, with the increase in ICMS, a liter of diesel should become around R$0.12 more expensive.

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