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Gas Prices Close 2024 at R$ 6.29 and Ethanol at R$ 4.27, Due to Economic Factors and Increased Transport Demand, Says Edenred Ticket Log.
In a challenging economic environment, mining plays an increasingly significant role in the fuel market dynamics. In 2024, the price of gasoline will reach an average of R$ 6.29, while diesel, another essential petroleum derivative, will follow the same upward trend. The growing demand, combined with the escalation in mineral extraction operations, increases the pressure on the costs of these fuels, directly affecting the consumer’s pocket.
At the beginning of December, according to data from Edenred Ticket Log, it is noted that gasoline and ethanol saw significant increases due to economic instability and the growing needs of transport. Mining continues to be at the heart of the energy transition, driving both innovation in alternative energy sources and the maintenance of traditional ones, such as gasoline and diesel.
The strategy of the extractive industry in 2025 will be vital to lead the change in the global energy landscape, focusing on automation and efficiency. The sustainable growth of extraction operations is crucial to balance the supply of petroleum derivatives, softening the effects of price volatility on gasoline and diesel. Experts predict that the synergy between mining and the fuels sectors will not only create new jobs but also strengthen overall economic resilience.
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Reports indicate that Edenred Ticket Log, when monitoring the average prices of December 2024, confirms that these fluctuations result from both international influences and internal mineral exploration, which fuels the demand for petroleum derivatives. Diesel, essential for cargo transportation and industrial operations, also reflects these variations, reaching an average price of R$ 5.15 per liter.
In the last quarter of 2024, as reported by Edenred, the overall fuel consumption increased, consequently raising the demand for more eco-friendly and efficient mineral extraction practices. Industry players are therefore key to addressing the supply-demand imbalance, standing out as key players in the transition to a sustainable economy.
The average value of gasoline recorded an increase of 0.48% compared to the November closing. Ethanol, in turn, ended the last month of 2024 at R$ 4.27, after a rise of 1.18% in the average price compared to November. This data comes from the latest analysis by the Edenred Ticket Log Price Index (IPTL), which is dedicated to consolidating the price behavior of transactions at fuel stations, thus providing a very accurate average.
Increase in Fuel Market Prices
The rise in average gasoline and ethanol prices in Brazil by the end of this year can be explained by a series of economic and infrastructural factors. Among the main ones are logistics costs, which vary depending on the distances traveled and the infrastructural conditions of each region. Moreover, the recent increases in the dollar’s exchange rate have also directly impacted the fuel market, influencing the cost of petroleum-derived products. During the year-end period, it is common to observe a higher demand for transport, a factor that pushes prices at fuel stations. According to Douglas Pina, General Director of Mobility at Edenred Brasil, this results in higher prices for consumers.
Regional Analysis of Fuel Prices
In regional analysis, both fuels followed the national trend and closed more expensive at the end of December in all regions of the country compared to November. The most significant increase for gasoline occurred in the Northeast, where there was an increase of 1.58%. In the case of ethanol, the Central-West region recorded the highest increase of 1.94%. Even after a rise of 0.96%, ethanol was still sold at lower prices at fuel stations in the Southeast, at R$ 4.19; similarly, the cheapest gasoline at the end of December was also in the Southeast, at R$ 6.15, despite an increase of 0.16% compared to November.
State Variations in Prices
The highest average prices were observed in the North, with gasoline reaching R$ 6.81 and ethanol R$ 4.99, after increases of 0.29% and 0.40% respectively. In the state of Paraíba, ethanol had its greatest decrease, cutting its price by 3.25% compared to November, trading at R$ 4.17 at the end of December. Conversely, Goiás recorded the highest fuel increase during the period, reaching a price of R$ 4.23 after a 3.42% increase. São Paulo had the lowest average cost for drivers, with ethanol at R$ 4.05, even after a 1.25% increase. Meanwhile, Amapá displayed the most expensive ethanol, maintaining an average price of R$ 5.39 at the stations.
Gasoline Performance in Brazilian Regions
In the Federal District, gasoline had its largest price reduction, with a drop of 3.14%, reaching R$ 6.16. Sergipe observed the largest increase of 2.50%, resulting in an average price of R$ 6.56. Even with a 0.33% increase during the period, São Paulo had the cheapest gasoline among the states, at R$ 6.07. Acre, despite price stability, continued to be the state with the most expensive gasoline in the country at the end of December, with an average price of R$ 7.41.
Final Considerations on Fuel Use
In the last months of 2024, ethanol proved to be the most financially advantageous option in most regions of Brazil, especially for drivers in the Southeast and Central-West regions. In addition to being a more economically viable choice for consumers, ethanol also provides environmental benefits, as it emits fewer pollutants, thus promoting more sustainable and low-carbon mobility. Douglas Pina emphasizes this advantage in the current economic scenario.
The IPTL is a fuel price index based on the refueling conducted at a network of 21,000 stations accredited by Edenred Ticket Log, which uses a robust data science structure to consolidate the price behavior of transactions at fuel stations, offering a precise and reliable average, due to the large number of vehicles managed by the brand, which exceeds 1 million, with an average of eight transactions per second. Edenred Ticket Log, part of Edenred Brasil’s Mobility business line, benefits from over 30 years of market experience, adapting to customer needs and offering modern and innovative solutions aimed at optimizing daily processes.
Source: © Edenred Mobility Press
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