The New President of Petrobras, Appointed by Lula, Confirms That the Government Will Have Interventionist Pricing Policy for the State Oil Company’s Fuels

Written by Paulo Nogueira

Published on 30/12/2022 at 16:41

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Fuel Prices In Brazil Have Been Adjusted To The PPI Since Temer’s Inauguration In 2016.

Senator Jean Paul Prates (PT-RN), likely the next president of Petrobras, stated to Blog G1 that the fixing of fuel prices is “a responsibility of the government, and not just of a market company.”

The president of the PT, Gleisi Hoffmann, verified the blog report stating that a legislator would assume the direction of Petrobras. A formal announcement will be made on Friday (30).

According to Prates’ statements, the rules that the government, in its capacity as government and majority shareholder, will be followed by Petrobras. But it is safe to assume that all parties involved will weigh the benefits of oil and fuel production in Brazil against the potential loss of profit for its investors.

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Paulo Nogueira

Today, the International Parity Price (PPI) is used by Petrobras to determine the retail price of diesel and gasoline sold to distributors.

Adopted in 2016 under the government of Michel Temer (MDB), this strategy has been condemned by both the current and the next government (during the campaign, Lula made the famous statement: “I cannot enrich the shareholder and impoverish the housewife”).

The government had already regulated prices and, in an effort to control inflation, Petrobras sold gasoline and diesel below market costs.

Lula is facing a series of issues, including rising gasoline prices, in his early days in office. This is due to the expiration of the federal tax suspension, won during Bolsonaro’s election, which ends this upcoming Saturday (31). The Brazilian Infrastructure Center predicts that the price of a gallon of gasoline, a gallon of ethanol, and a gallon of diesel will increase by R$ 0.69 as a result.

Energy Transition Without Giving Up On Oil

The new president of Petrobras also stated that facilitating the company’s energy transition will be his main priority, without sidelining oil operations.

A realistic and fruitful plan for the company will be developed after the first months, assessing the situations of each unit of the organization, as Prates says.

The New President of Petrobras, Appointed by Lula, Confirms That the Government Will Have Interventionist Pricing Policy for the State Oil Company’s Fuels

Fuel Prices In Brazil Have Been Adjusted To The PPI Since Temer’s Inauguration In 2016.

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

Energy Transition Without Giving Up On Oil

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The New President of Petrobras, Appointed by Lula, Confirms That the Government Will Have Interventionist Pricing Policy for the State Oil Company’s Fuels

Fuel Prices In Brazil Have Been Adjusted To The PPI Since Temer’s Inauguration In 2016.

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With more than 635,000 doctors, Brazil sees competition increasing in large cities, and recent graduates are competing for shifts at an accelerated pace while the countryside still faces shortages.

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