Against The Grain, Arab Fund Mubadala, From The Crown Prince Of Abu Dhabi, That Purchased The Mataripe Refinery (RLAM) From Petrobras, Confronts State Price Movement And Will Not Reduce Gasoline Prices

Written by Flavia Marinho

Published on 04/06/2022 at 09:55

Updated on 27/06/2022 at 17:10

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Gasoline Prices Increased by 74% in 2021. It Is the First Time the Arab Fund Managing the Former RLAM Has Faced a Price Decrease from Petrobras

In 2021, Petrobras made 15 adjustments to gasoline prices, comprising 11 increases and 4 decreases. In total, the price of fuel sold at refineries grew by 74%. Meanwhile, diesel had 12 adjustments, with nine increases and three decreases, resulting in a price increase of 65%. The last adjustment occurred on October 26, raising the price of gasoline to R$ 3.19 and diesel to R$ 3.34. Despite the state-owned company announcing a reduction in gasoline prices at refineries on December 14, Acelen, a company linked to the Arab fund Mubadala, which purchased the Mataripe Refinery (formerly Landulpho Alves, RLAM) from the Brazilian oil company, maintained the same prices charged. As a result, fuel prices at gas stations in Salvador, Bahia, remained at an average of R$ 6.59.

Arab Fund Has Autonomy to Set Its Own Prices

Since the refinery does not belong to Petrobras, Acelen has the autonomy to set its own prices. Petrobras reduced the price of gasoline per liter at its refineries for the first time since June by about R$ 0.10 (3%).

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According to G1, in Sergipe, gas stations fully passed on the R$ 0.10 reduction implemented by Petrobras to consumers, and the price per liter became between R$ 6.50 and R$ 6.55 in Aracaju. Meanwhile, in Rio Grande do Sul, gasoline was sold at R$ 6.58 per liter in Caxias do Sul, R$ 0.20 less than on Tuesday. According to the GZH website, this reduction is a result of both Petrobras’ movement and a promotion at the station.

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

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

Situation May Change If Distributors in Bahia Start Importing Fuels

The executive secretary of the entity, Marcelo Travassos, stated that Baiano consumers depend on Acelen’s pricing policy, but the situation may change if distributors in Bahia begin to import fuels if this operation becomes economically more viable.

This month, in Salvador, gasoline prices reached R$ 7.09 for regular, while on the last Monday (25), it was averaging R$ 5.99. Common ethanol, on the other hand, was sold for over R$ 6, and diesel reached the same level.

After the price reduction announced by Petrobras, on Wednesday afternoon (15), the lowest price for regular gasoline was R$ 6.42.

Against The Grain, Arab Fund Mubadala, From The Crown Prince Of Abu Dhabi, That Purchased The Mataripe Refinery (RLAM) From Petrobras, Confronts State Price Movement And Will Not Reduce Gasoline Prices

Gasoline Prices Increased by 74% in 2021. It Is the First Time the Arab Fund Managing the Former RLAM Has Faced a Price Decrease from Petrobras

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Against The Grain, Arab Fund Mubadala, From The Crown Prince Of Abu Dhabi, That Purchased The Mataripe Refinery (RLAM) From Petrobras, Confronts State Price Movement And Will Not Reduce Gasoline Prices

Gasoline Prices Increased by 74% in 2021. It Is the First Time the Arab Fund Managing the Former RLAM Has Faced a Price Decrease from Petrobras

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Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

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