States increase ICMS on gasoline, diesel and cooking gas by 12.5%, starting in February 2024

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Comsefaz has updated rates based on inflation since November 2021. ICMS is part of the final value of fuels. The Finance Secretaries of the states and the Federal District approved, on the 20th, a 12.5% ​​increase in the Tax on the Circulation of Goods and Services (ICMS) rates for gasoline, diesel and cooking gas, starting on the 1st February 2024. The new values ​​will be valid until the end of next year. Therefore, the tax values ​​will increase to: gasoline: R$1.3721 per liter; diesel: R$ 1.0635 per liter; cooking gas: R$ 1.4139 per kg. Currently, the rates are: gasoline: R$1.22 per liter; diesel: R$0.9456 per liter; cooking gas: R$ 1.2571 per kg. The decision of the National Committee of State Secretaries of Finance (Comsefaz) was published this Thursday (26). According to Comsefaz, the increase takes into account the update for inflation in the period from November 2021, when the tax base was fixed according to average sales values. According to the committee, this was a “way to mitigate the instability of the impact of the then pricing policy practiced by Petrobras.” The ICMS on diesel, gasoline and cooking gas is ad rem – that is, the value is fixed per liter or kg of fuel. The state tax is part of the final value of the fuel. The price is made up of the value of fuel in refineries, distribution and resale margins, in addition to federal and state taxes. Understand Petrobras’ new pricing policy Diesel will rise with federal taxes in 2024 The liter of diesel will become more expensive from January 1, 2024, with the resumption of collection of federal PIS and Cofins taxes. The fossil fuel has the addition of 12% biodiesel, which gives rise to diesel B, sold at gas stations. Considering the mixture, the value of taxes at the pump will be approximately R$0.33 per liter from January onwards. The PIS/Cofins rates on diesel and biodiesel have been zero since 2021, as a way of reducing the price of fuel for the consumer.

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