End of the Poll: Majority Prefer Petrobras to Build More Refineries to Lower Fuel Prices

Written by Junior Aguiar

Published on 09/05/2022 at 09:21

Updated on 09/05/2022 at 09:29

Se o preço do petróleo aumenta lá fora, a Petrobras aumenta aqui também | Imagem: EBC via Google

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Among the Less Efficient Options Chosen in the Voting, Ending the PPI and Market Self-Regulation Would Not Be Good Alternatives for the Country

Fuel prices are high in Brazil for various reasons. The main reason is Petrobras’ policy of setting the price of crude oil based on international prices. In other words, if the price of the raw material increases abroad, the state-owned company raises it here as well, directly affecting the prices at gas and diesel stations. One of the recent reasons for this price surge has been the war in Ukraine, as Russia, which is the second largest oil exporter and the third largest oil producer in the world, accounting for about 12% of the global supply, has been facing economic sanctions.

In a presidential election year, the candidates do not refrain from criticizing Petrobras, even though the Union benefits from the state-owned company’s earnings. But besides trying to change the policy of international parity in oil prices, what would be another alternative for fuel prices to decrease in Brazil? To gauge public opinion, the Click Petroleum and Gas portal conducted a poll on Twitter.

The opinion poll indicated that building more refineries would be the main alternative to reduce fuel prices. This option garnered 35% of the votes, closely followed by “cut taxes” with 32%. “Abolishing the Investments Partnership Program (PPI)” received just over 21%, and “Market Self-Regulation” was pointed out by 10% of voters.

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Building More Refineries Would Make Refining Costs Drop by More Than 30%

Pointed out by the majority of people who participated in the CPG portal poll, the construction of more refineries would cause the cost of oil refining at national facilities to drop by 33%, making it cheaper than abroad.

Currently, Petrobras has 12 refineries operating in Brazil that produce gasoline, diesel, aviation kerosene (QAV), fuel oil, among other petroleum derivatives, every day. The average is 1.8 million barrels produced per day.

Brazilian crude oil is very valuable. If it were fully refined here in the country, there would be no need to incur so much in import costs, nor would we be at the mercy of fluctuations in the dollar.

With the aim of processing Brazilian oil, the refineries of Abreu e Lima, in the city of Cabo de Santo Agostinho in Pernambuco, and the Comperj Complex in Itaboraí, Rio de Janeiro, had their constructions initiated.

However, the construction of Abreu e Lima was suspended in 2016 with 95% of the work completed. As for Comperj, only the assembly of equipment was needed for it to begin operations, until corruption schemes were revealed by Operation Car Wash.

Fuel Taxes Have Always Been a Target of Debate Involving Petrobras

Taxes represent a substantial portion of fuel prices in Brazil. Of the total price of gasoline, about 10% is from PIS/COFINS/CIDE. The ICMS, which is the state tax, accounts for about 24% (national average).

End of the Poll: Majority Prefer Petrobras to Build More Refineries to Lower Fuel Prices

Among the Less Efficient Options Chosen in the Voting, Ending the PPI and Market Self-Regulation Would Not Be Good Alternatives for the Country

Building More Refineries Would Make Refining Costs Drop by More Than 30%

Fuel Taxes Have Always Been a Target of Debate Involving Petrobras

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End of the Poll: Majority Prefer Petrobras to Build More Refineries to Lower Fuel Prices

Among the Less Efficient Options Chosen in the Voting, Ending the PPI and Market Self-Regulation Would Not Be Good Alternatives for the Country

Building More Refineries Would Make Refining Costs Drop by More Than 30%

Fuel Taxes Have Always Been a Target of Debate Involving Petrobras

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Four times faster than the Concorde, capable of taking passengers from New York to London in less than an hour at Mach 5.5, and with an engine that switches from turbojet to ramjet mid-flight at Mach 3.5, the Hermeus Quarterhorse went from paper to its first flight in just 19 months.

Under nearly 2 kilometers of ice in Antarctica, scientists have discovered an ancient landscape sculpted by rivers up to 60 million years ago, the size of Wales, preserved as a time capsule that could help predict the advance of ice towards the ocean.

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