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Gas Prices Reach R$ 120 in Brazil’s Midwest Even With Federal PIS and Cofins Taxes Zeroed; Gasoline and Diesel Prices Drop
Even after the federal government zeroed the PIS and Cofins taxes on the sale of the 13 Kg Liquefied Petroleum Gas (LPG) cylinder and a slight decline in the commodity last week in the international market, which led to reductions in gasoline and diesel prices by Petrobras on March 25, the price of cooking gas reached R$ 120.00 in the Midwest region, the highest value in the history of the fuel!
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The price of cooking gas remained virtually stable at R$ 83.25 per cylinder, on average nationwide, with the last adjustment by Petrobras occurring on March 1.
Between last week and the previous one, the Southeast region saw a slight price decline for cooking gas of 1.5%, down to R$ 62.99. In the South, prices dropped by 0.1% (R$ 84.19); in the Northeast, by 0.9% (R$ 81.19), while the North region also recorded prices 0.6% higher (R$ 93.77).
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According to data from the National Agency of Petroleum, Natural Gas, and Biofuels (ANP), even without the exemption from federal PIS and Cofins taxes, gasoline prices dropped by 0.7% in the week of March 21 to 27 compared to the previous week. Meanwhile, diesel, which also benefited from the tax reduction, saw a price decrease of 0.1%.
PIS and Cofins Taxes for Cooking Gas and Diesel Are Being Zeroed at the Time of Purchase at Petrobras Refineries
Petrobras reports that the PIS and Cofins taxes for cooking gas and diesel are already being zeroed at the time of purchase at the refineries. In the case of cooking gas, the distributor must present a declaration that it will be packaged in cylinders, in order not to benefit sales of LPG to industries and companies.
The COVID-19 pandemic has increased consumption among Brazilians. In 2020, the price of cooking gas for the 13 Kg cylinder increased by 5% compared to the previous year. Meanwhile, the consumption of industrial cooking gas fell by 2.3%.
The Energy Research Company (EPE) projects a 1.7% annual increase in LPG demand until 2030, replacing the use of firewood and coal in rural areas, while in urban centers, cooking gas is losing ground to piped natural gas. Over a decade (2021-2020), LPG consumption rose by 8.8%, according to data from the National Agency of Petroleum, Natural Gas, and Biofuels (ANP).
Brazil has 19 LPG distributors, with four companies holding 80% of the market: Ultragaz (23%); Liquigás (21%); Supergasbras (20%); and Nacional Gás (18%). According to the National Union of Companies Distributing Liquefied Petroleum Gas (Sindigás).
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