Due to the devaluation of the exchange rate and other factors, regular gasoline reached a price greater than R$ 7 for consumers who use the fuel in Rio Grande do Sul, according to data recorded by the ANP
According to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the price of regular gasoline has already exceeded R$7 in Rio Grande do Sul and consumers in Acre have been paying R$6,99 since last week. The average price of fuel in the country rose by 0,22% between the 8th and 14th of August and has already accumulated an increase of 0,60% in the month. According to experts, the dollar has a great influence on the increase in fuel, recorded by the ANP, but other factors also contribute.
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Price of a barrel of oil rises after currency devaluation
According to Adriano Pires, director of the Brazilian Infrastructure Center, petroleum derivatives, such as common gasoline, increase whenever there is a devaluation of the exchange rate and the price of a barrel also increases. On the 21st, the dollar closed at R$5,3848, and Brent oil traded in London reached US$65,18 per barrel.
In the composition of the price of common gasoline, Petrobras' share is the highest, according to the ANP, with 32,9%. The state owned 98% of the refining market until 2019, when it committed to selling half of its refineries to the Administrative Council for Economic Defense. So far, the only one that has been sold is the one in Bahia, bought by the sovereign wealth fund of the United Arab Emirates, Mubadala.
Almost 7% of the gasoline consumed in Brazil comes from abroad
Maintaining international price equality is essential for interested parties to be attracted to other refineries. Another point that reinforces the need for this is the fact that Brazil needs to import fuel for the domestic market to be supplied.
About 7% of the gasoline that is consumed in the country between the months of January and June comes from abroad, according to Valéria Lima, executive director of Downstream of the Brazilian Institute of Oil and Gas (IBP). According to her, there is no point in putting the blame on Petrobras, as the exchange rate also puts a lot of pressure on and if it were lower, gasoline would also be at a better price for consumers. And this is the result of economic policy, after all, the exchange rate also reflects the country's macroeconomic conditions.
The director also points out that there are other determinants for the price of regular gasoline that reaches consumers. Even the biofuels that are included in the final mixture have risen, as is the case of anhydrous ethanol, which is added in the proportion of 27% in regular gasoline and represents 15,9% of the value that reaches consumers.
ICMS is one of the biggest influencers in the increase registered by the ANP
One of the biggest villains in the price of fuel is the ICMS, which is also responsible for 27,9% of the value that reaches consumers. Each state has the authority to define the value, which, according to data from the National Federation of Fuel Trade, varies between 25% and 34% for gasoline, depending on the state.
Despite being high, Brazilian fuel is not among the most expensive in the world. The world average price was US$ 1,20 per liter on the 16th of this month and US$ 1,115 in Brazil.
