Fuel: Gasoline tends to fall even more, even after a new decrease for the tenth consecutive week, according to former president of the IBP

IBP declared that the decreases made by Petrobras in the price of gasoline was due to the demand for the fuel in the USA

In an interview with CNN, this Sunday, 4, the former president of the IBP (Brazilian Institute of Oil and Gas), Eberaldo Almeida, declared that gasoline prices will continue to follow a downward trend in the coming weeks. According to the expert of IBP, the decrease in demand for gasoline fuel in the United States is one of the main factors that explain the movement in gasoline prices by Petrobras.

“In the case of gasoline fuel, according to the IBP, if nothing extraordinary happens, the tendency is for the price of gasoline to continue to drop. What we see from now on is, in fact, a reduction in fuel demand. That is, the demand for gasoline has been a major factor in signaling price, more than supply”, says the IBP.

For the tenth consecutive week, the value of gasoline at pumps at gas stations throughout Brazil showed a further decrease, defends the IBP. According to data from ANP (National Agency of Petroleum, Natural Gas and Biofuels), released on Friday, 2, the average price of gasoline fuel fell from R$ 5,25 to R$ 5,17, a decrease of 1,5 .2021%. The last time gasoline prices were at this level was in the last week of February XNUMX.

The former president of the IBP also detailed that the war in Ukraine and inflation in the USA caused American families to reduce the consumption of gasoline fuel, resulting in a lower demand for the fuel and, consequently, a greater stock, reducing the price.

“A normalization in the price of gasoline in the American market is already expected. That is, there was no peak, this reflects in a surplus in fuel and a drop in price. And what Brazil is doing is following the price in the international market”, said the IBP.

Petrobras also reduces the price of Aviation Kerosene fuel by 10,4%

After the reduction in gasoline prices, the Brazilian oil giant Petrobras, informed on the 26th of August, that on the 1st of September, it will make readjustments in the values ​​of Aviation Kerosene (QAV) with a reduction of 10,4% in sales prices for distributors.

This is the second consecutive reduction in QAV prices, which had already suffered an adjustment of -2,6% in early August, according to IBP data.

As per practice dating back the last 20 years, QAV price adjustments are monthly and defined through a contractual formula negotiated with the distributors.

Petrobras' QAV sales prices for distribution companies seek balance with the international market and follow changes in the value of the product and the exchange rate, up and down, with readjustments applied on a monthly basis, mitigating the daily volatility of international quotations and exchange rates.

Petrobras markets the QAV produced in its refineries or imported only for distributors. The distributors, in turn, transport and sell the product to air transport companies and other final consumers in the airports, or for resellers, which can influence and lower the prices of airline tickets.

It is worth noting that distributors and resellers are responsible for installations at airports and supply services.

“The Brazilian market is open to free competition and there are no legal, regulatory or logistical restrictions for other companies to act as QAV producers or importers,” Petrobras said in the statement.