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The Mataripe Refinery in Bahia, which is private, adjusted gasoline and diesel prices on the previous Saturday, October 8, in order to maintain the price parity of oil in the international market
The owner of the Mataripe unit in Bahia, Acelen, adjusted the fuel prices sold on October 8, Saturday. The company reported that the average price of gasoline for distributors increased by 9.7%. The price of diesel S10 was raised by 11.3% and diesel S500 saw a price increase of about 11.5%.
According to data from Abicom, an association that brings together fuel importers, now that the adjustment has been made, the amount that the Mataripe Refinery is charging for its products is in line with international prices. Until December of the previous year, the refinery belonged to Petrobras and maintained the same prices as the refineries controlled by the Brazilian oil company, but it was privatized.
Furthermore, according to information from Abicom, the price of gasoline supplied by Petrobras today is 10% cheaper compared to the price practiced in the international market. In the case of diesel, the price offered by the state-owned company in the country is 13% lower than the global average.
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Petrobras Would Be Facing Pressure from Brasília Not to Increase Fuel Prices
Despite the pressure being exerted on Petrobras to increase fuel prices, the government has already decided that current levels should be maintained. According to reports, the pressure from the government is for a reduction in gasoline and diesel prices at least until the end of the month.
Acelen explains that the costs of fuels produced at the Mataripe Refinery “follow market standards, which take into account factors such as the cost of oil, which is obtained at international rates, currency, and freight, possibly fluctuating up or down.” According to the company’s statements, its pricing strategy is open and honest, basing its decisions on objective technical criteria consistent with global market standards.
According to information obtained by the portal O Globo, a source at Petrobras noted that the state-owned company is waiting to assess a new scenario until it sees how oil prices develop in the coming days; for this reason, new prices for fuels have not yet been defined.
How Are Fuel Prices Formed by Petrobras?
According to Petrobras, the price of gasoline and diesel is basically formed by 4 costs. In addition to taxes(1), the value is formed by the share that goes to the company(2), the amount allocated for distributors(3), and the cost of additional biofuels(4).
According to the Brazilian state-owned company, taxes currently represent one third of the cost of a liter of gasoline (33.6%), with state taxes contributing 24.1% and federal taxes 9.5%. Diesel now has an ICMS of 11.7%, and currently, there is no collection of federal taxes, which have been zero since March.
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