Diesel Hits Record High in 2023, According to Panorama Veloe Report

Written by Corporativo

Published on 06/10/2023 at 15:11

Foto: Informações para a Imprensa – FSB Comunicação / Mariana Kovelis

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While Diesel Prices Rise, Ethanol Becomes an Economic Alternative to Gasoline.

The year 2023 has proven to be challenging for fuel consumers, particularly for those relying on diesel. In September, the average price of regular diesel and S-10 diesel increased by 9.9% and 9.2%, respectively, compared to August. According to data from the Veloe Mobility Indicators Overview, this is the highest value since January of the same year.

Fuel Price Variations

Despite the significant increase, diesel shows a decrease in its accumulated price for the year, with a reduction of 4.6% for regular diesel and 4.2% for S-10 diesel. When looking at the accumulated prices over the past twelve months, the average prices of these fuels saw an even more significant drop of 10.1% and 9.6%, respectively.

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On the other hand, gasoline had a more modest increase in September, with a 2.1% rise for both regular and additive versions. However, this modest increase does not reflect on the year’s accumulation, with regular gasoline showing a 16.9% increase and the additive version closely following with a 16.2% rise.

Regional Gasoline Prices

Acre stood out with the highest prices per liter of regular gasoline, reaching R$ 6.753, followed by its capital, Rio Branco, at R$ 6.637 per liter. In contrast, São Paulo showed the most affordable prices, at R$ 5.735 per liter, along with its capitals Campo Grande (R$ 5.641) and São Luís (R$ 5.654). Regarding monthly variation, the Southeast and Central-West/North regions experienced the highest increases, both with an increase of approximately 2.5%.

The Rise of Ethanol

With the constant increases in gasoline prices, ethanol emerges as a more economical alternative for flex vehicles. Throughout 2023, while regular gasoline saw a 15.9% increase in its average price, ethanol experienced a reduction of 4.3%. This resulted in ethanol costing only 68.4% of the value of gasoline, a ratio not seen since October 2018.

Overall, in the capitals, ethanol is even more competitive, costing only 67.8% of the price of gasoline. Highlights include São Paulo and Mato Grosso, where this percentage drops to 62.1% and 59.2%, respectively.

For a more detailed analysis, check out the Fuel Price Monitor from Veloe Overview.

Getting to Know Veloe

Veloe, a joint initiative of Banco do Brasil and Bradesco, is a reference in the mobility and fleet management market. Established in 2018, the platform aims to simplify mobility and optimize fleet management. Veloe is accepted on all toll roads in Brazil and at more than 2,300 commercial establishments. With significant partnerships such as C6 Bank, BTG+, Digio, and Unidas, and collaboration with Fipe, Veloe demonstrates its commitment to providing relevant information, promoting well-informed decisions. In 2023, the company also launched Veloe Go, aimed at services for legal entities. Requesting services from Veloe and Veloe Go is easy through the official website.

Source: Press Information – FSB Comunicação – Mariana Kovelis.

Diesel Hits Record High in 2023, According to Panorama Veloe Report

While Diesel Prices Rise, Ethanol Becomes an Economic Alternative to Gasoline.

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