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ANP Starts Public Consultation to Review Resolution Regulating the Disclosure of Prices for Derivatives and Biofuels. Proposals Include More Transparency, Historical Prices, and New Rules for Wholesale Suppliers.
The National Agency of Petroleum, Natural Gas and Biofuels (ANP) will open public consultation and hearings regarding Resolution 795/2019, which addresses transparency in the disclosure of prices for petroleum derivatives and biofuels in wholesale.
The main goal, according to the agency, is to reduce information asymmetry, improve predictability, and strengthen competition in the market.
Proposals Include Historical Prices and Greater Clarity for Buyers
Among the most relevant points of the proposal is the requirement that wholesale suppliers with market representation publish on their websites the updated list price and the historical values for the last 12 months. The volume considered for an agent to be classified as representative will be disclosed annually by the ANP, taking into account factors such as market size and the participation of each company.
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Another measure under consideration is the disclosure of the price offered by the buyer whenever it is higher than the list price. This data must also be available online, with a one-year history.
End of Price Submission by Email and New Rules for Suppliers
The revision of the regulation also proposes the end of the possibility of sending information by email. Following the change, it will be mandatory to have a dedicated webpage for price disclosure.
In addition, the ANP suggests the formal creation of the concept of wholesale suppliers, including producers, importers, and distributors operating in the primary market for petroleum derivatives and biofuels. These agents, considered significant, will have their contractual models analyzed and approved in advance by the agency.
Even with the changes, the rule regarding the presentation of the indicative price in the contract will be maintained. This amount corresponds to the price agreed upon by the parties, defined by delivery point, sales modality, and the start date of the contractual validity — which can also be the date of signing or that printed on the document.
