Despite the Increase in Fuel Prices, There Is a Risk of Diesel Shortage, Due to Petrobras’ Prices Remaining Outdated.
The spike in oil prices reflects on the pockets of Brazilians. Petrobras announced this Thursday (03/10) new adjustments to the prices of gasoline, diesel, and cooking gas. The new increase comes after almost 2 months of frozen prices at the state-owned refineries. According to Abicon, even with the new adjustment, gasoline and diesel continue to have outdated prices compared to those practiced in the international market.
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“After 57 days without adjustments, starting from 03/11/2022, Petrobras will make adjustments to its selling prices of gasoline and diesel to distributors,” the state company informed in a statement.
The average gasoline price for distributors will increase from R$ 3.25 to R$ 3.86 per liter, which is an adjustment of 18.8%. In the case of diesel, the average price per liter will be adjusted from R$ 3.61 to R$ 4.51, marking a rise of 24.9%.
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In the case of LPG (Liquefied Petroleum Gas), better known as cooking gas, there will be an adjustment of 16.1%, where the price per kg will increase from R$ 3.86 to R$ 4.48, equivalent to R$ 58.21 for 13 kg.
The product had not been adjusted for 152 days and currently costs R$ 102.64 for the 13 kg cylinder in Brazil, on average, according to a survey by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
Outdated Diesel Price May Generate Fuel Shortage in Brazil
According to Abicom (which brings together importers) and GSB Consultants, in an interview with the newspaper O Globo, the gap in gasoline prices, after the adjustment announced this Thursday (10), will be between 8% and 10% in Brazil compared to the international value. In the case of diesel, the price sold by Petrobras remains, even after the adjustment, between 9% and 11% lower than the prices charged abroad.
The value of this gap varies constantly, as it depends on the oil quotation in the international market. When the price per barrel rose to almost US$ 140, the gap here reached 40% for diesel and 30% for gasoline. Later, with the decline in international prices, the difference was reduced.
“This year, our members have not made any imports. Therefore, there is a risk of a local diesel shortage. The refineries here cannot meet the diesel demand. Today’s decision by Petrobras to adjust takes 30 to 45 days for importers to purchase fuel and for the product to arrive here,” said Araujo. “We have returned to pre-war gaps.”
The consultant Gustavo Oliveira de Sá e Benevides from GSB Consultants, highlighted that the lack of adjustment by Petrobras has been impacting the imports of several companies, including large companies operating in Brazil. Yesterday, Ipiranga announced that it is restricting diesel sales.
According to him, if Petrobras had not made the increase this Thursday, it could increase the risk of fuel shortages in Brazil.
“We were very outdated due to the war in Ukraine, which raised fuel prices. Despite the adjustment, the gap still remains,” said Benevides.

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