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Petrobras and a few other global oil operators have never seen a negative impact in the downstream sector of this magnitude. The drop in fuel demand caused prices to fall, even being traded at negative prices because there is too much raw material with nowhere to store it.
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With low consumption, it was expected that the price of gasoline and diesel at refineries would drop, and that is what happened. But the same logic did not apply to the end consumer:
Today, the price of gasoline at Petrobras’s refinery is 91 cents. Unfortunately, I do not see this drop reaching the pumps. Over the weekend, I saw regular gasoline at 4.99. It is a very large distance. It means there was some drop at the stations, but minimal compared to the refinery price.” said the president of Petrobras in an interview with the website O Antagonista yesterday (21).
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It was a drop of 52.3% (almost half) in the average in Brazil and globally; despite this, Petrobras is still exporting a lot of maritime fuel, with low sulfur content. The demand for LPG (Liquefied Petroleum Gas) has grown during this period.
