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Ethanol Rose 18.61% and Gasoline 9.39% in 2024, Impacted by Dollar Appreciation and Edenred Price Index Analysis.
The year 2024 has been significant for the fuel market in Brazil, with a notable increase in prices. Ethanol recorded an impressive rise of 18.61%, while gasoline increased by 9.39%. This impactful rise was partly influenced by the appreciation of the dollar and the impact of mining in areas close to sugarcane planting. The Edenred Ticket Log Price Index (IPTL) indicates that factors like these directly affect the economic scenario, highlighting the need for greater exchange rate stability to mitigate such fluctuations.
Overall, mining plays a crucial role in the economy. In parts of the country where mineral exploration is rampant, the logistics of fuel distribution end up being affected, leading to variations in final prices. Moreover, the extractive industry demands innovative technological and environmental transformations, also contributing to the much-needed energy transition. According to the Brazilian Mining Institute, these areas experience cost variations that reverberate in fuel prices, especially in regions where this activity is predominant.
The Role of Mining and Its Impact on Fuels
The relationship between mining and fuels is not new. Throughout 2023, fuel prices were already being affected by political and geographical decisions related to mining. In October of that year, average closing prices indicated a direct impact on the consumer’s pocket, as reported by sources such as the National Agency of Petroleum (ANP) and the National Department of Mineral Production (DNPM).
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By January 2024, the situation intensified with the arrival of new government policies related to sustainability. EDENRED highlighted that without effective management, these challenges will continue to impact the economic sector. Thus, the search for cleaner energy alternatives, such as ethanol, and the reduction of fossil fuel use remain at the center of discussions between governments and industry companies.
Finally, it is important to emphasize the ongoing efforts to optimize the mining sector and reduce environmental and economic impacts. With initiatives such as the automation of processes and a focus on sustainable growth, it is expected that the impact on fuel prices will be reduced throughout 2025. According to a report by PricewaterhouseCoopers, industries that invest in technology and ESG practices will be better prepared to face future challenges.
Increase in Fuel Prices in 2024
In 2024, there was a significant increase in fuel prices throughout Brazil. The highlight was ethanol, which accumulated an impressive increase of 18.61% over the year. Gasoline, although to a lesser extent, also showed a significant rise, closing the year with an increase of 9.39%. At the end of the year, average prices of ethanol and gasoline were recorded at R$ 4.27 and R$ 6.29, respectively.
Influence of Dollar Appreciation and Infrastructure
The rise in fuel prices was also driven by the strengthening of the dollar against the real, especially in the last weeks of 2024. Additionally, factors related to the infrastructure of service stations contributed to the increased costs for the end consumer. This price index analysis reveals how the appreciation of the dollar negatively impacts the fuel market.
Advantages of Ethanol and Sustainable Mobility
Despite the notable price increase, ethanol remains an economically viable option in various regions of Brazil, as indicated by the Price Index analysis. This biofuel is not only competitive in terms of cost but also promotes low-carbon mobility. Douglas Pina, General Director of Mobility at Edenred Brazil, highlights this ecological advantage, which significantly contributes to a more sustainable environment.
Data Science Structure and Reliability
The IPTL, fuel price index, is generated from data collected at 21,000 stations accredited by Edenred Ticket Log. This organization has a robust data science structure that carefully monitors the prices charged at the pumps, ensuring a highly reliable average. The volume of data generated is remarkable, with over one million managed vehicles, resulting in an impressive eight transactions per second.
Innovative Solutions from Edenred Ticket Log
Edenred Ticket Log, which is part of Edenred Brazil’s Mobility business line, boasts over 30 years of expertise in the sector. The company adapts quickly to its clients’ demands, providing innovative and modern solutions. The aim of these initiatives is to simplify the daily management of its consumers, promoting efficiency and practicality in an increasingly complex fuel market.
Source: © Press EDENRED MOBILIDADE
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