The price of gasoline rose 74% in 2021. It is the first time that the Arab fund that manages the former RLAM has been confronted with a price reduction movement by Petrobras

In 2021, Petrobras carried out 15 readjustments in the price of gasoline, with 11 increases and 4 reductions. In total, the value of fuel sold at refineries grew by 74%. Diesel, on the other hand, had 12 readjustments, with nine increases and three reductions, which totaled a price increase of 65%. The last readjustment took place on October 26th and led to gasoline costing R$3,19 and diesel to R$3,34. Despite the state-owned company announcing, on December 14th, a reduction in the price of gasoline at refineries, Acelen, a company linked to the Arab fund Mubadala, which bought the Mataripe Refinery (formerly Landulpho Alves, RLAM) from the Brazilian oil company, remained with the same prices charged. As a result, prices at pumps at gas stations in Salvador, Bahia, remained at an average price of R$6,59.

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The refinery, which is located in São Francisco do Conde, recently purchased and 100% operated on December 1st by the Arab fund, supplies fuel to service stations throughout Bahia. The price charged at service stations is the result of fuel costs at the refinery, the operation and profit margin of distributors and service stations, and taxes.

Arab fund has autonomy to define its own prices

Since the refinery does not belong to Petrobras, Acelen has autonomy to set its own prices. Petrobras reduced for the first time since June the price of a liter of gasoline in its refineries, by approximately R$ 0,10 (3%).

According to G1, in Sergipe, gas stations fully passed on to consumers the R$ 0,10 reduction effected by Petrobras and a liter now costs between R$ 6,50 and R$ 6,55 in Aracaju. In Rio Grande do Sul, gasoline cost R$6,58 per liter in Caxias do Sul, R$0,20 less than on Tuesday. According to the GZH website, this reduction is the result of both Petrobras' movement and a promotion of the station.

Acelen responded, last Tuesday (14/12), in a press release: “Acelen's commercial policy is to be competitive, supported by technical and transparent criteria. We observe the natural fluctuations of the market, allowing our customers to have visibility and predictability of prices”.

According to the Union of State Fuel Resellers (Sindicobustíveis, which represents the service stations), currently Acelen does not have a pricing model, but must follow the prices practiced in the international oil market.  

Situation may change if distributors in Bahia start importing fuel

The entity's executive secretary, Marcelo Travassos, said that consumers in Bahia depend on Acelen's pricing policy, but the situation could change if distributors in Bahia start importing fuel if this operation is more economically viable.

This month, in Salvador, gasoline prices reached R$ 7,09 for the common type, whereas last Monday (25) it cost an average of R$5,99. Common ethanol, in turn, was sold for more than R$ 6 and diesel reached the same level.

After the price reduction announced by Petrobras, on Wednesday afternoon (15), common gasoline with the lowest price was going for R$ 6,42.