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Beyond Ethanol and Gasoline, Diesel and Cooking Gas Continue to Suffer Revisions. According to Petrobras, the Revisions Follow Competitive Pricing Practices, in Balance with the Market
Since 2016, Brazilian oil pricing policy has been following international prices, causing a series of factors to enter the composition of fuel prices, especially gasoline and diesel. After the shock caused by the Coronavirus pandemic, the global economy experienced robust growth this year, which increased the demand for commodity and, consequently, helped pull prices up.
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In a survey conducted in six states, the average gasoline price increased by 0.64% between November 7 and 13. According to the National Index of Broad Consumer Prices, gasoline is the product that suffered the most price adjustments in 2021. According to Petrobras, the adjustments adhere to the commitment to practice competitive prices, in balance with the market.
The consumption of ethanol continues to be disadvantageous in all states of the country, experiencing increases once again (reaching R$ 5.394/L) and completing its 15th consecutive week on the rise. On the other hand, gasoline, which went from 6.710% to 6.753%, accounts for the sixth consecutive month of price increases.
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Adverse Scenario and Low Competitiveness
The relationship between the prices of biofuel and fossil fuel rose from 78.9% to 79.9% within a week, a scenario not seen since the period of April 17 to 23, 2011, when it was 80.9%. As a result, the use of ethanol continues to be commercially uncompetitive and is even further away from the threshold set – 70% of the price of gasoline – a range in which it is considered advantageous for consumers.
According to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the price of ethanol rose in 21 states and the Federal District, between October 7 and November 3.
The state of Minas Gerais registered an increase of 1.73% in the average price of ethanol, which was sold at R$ 5.538/L, making it the highest price among producing states. Gasoline also experienced an increase of 0.8% and was traded at an average of R$ 7.024/L.
The rise in prices also affected diesel and cooking gas. The average price per liter of diesel increased by 2.45%. Meanwhile, the value of cooking gas increased by 7.2%, approaching R$ 100.00 for the gas cylinder.
In the government sector, the price of fuels is the main topic. According to Petrobras President Joaquim Silvério Luna, the fuel pricing policy is not discussed with President Jair Bolsonaro. Federal Deputy José Ricardo emphasized that the price of fuel will increase again in the coming days due to international prices.
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