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The state company announced a reduction of 6.1% in gasoline prices and 8.2% in diesel values at service stations across Brazil. Petrobras’ decree is already in effect in the national market starting this week.
For this Wednesday, (07/12), the announcements recently made by Petrobras regarding the reduction of diesel and gasoline prices in the country are already in effect. The state-owned company lowered diesel prices by 8.2%, while gasoline had its price reduced by 6.1%. However, there will still be a period of adjustments in the final prices that reach consumers across Brazil, as each gas station will have to adopt its own fiscal measures to arrive at the final price.
Gasoline and Diesel Prices Are Drastically Reduced Nationwide After Petrobras Announces Fuel Price Adjustments
The Brazilian fuel market has been experiencing significant instability throughout 2022, with risks of shortages, a decline in product availability, and political issues across the country.
However, since the presidential elections, the impasses in the segment have gradually been stabilizing, thus ensuring some positive achievements for consumers.
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Petrobras implements a severe adjustment and confirms a 55% increase in the price of aviation kerosene with a proposal for installment payments for the companies.
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The rise in oil prices could ensure an extra revenue of R$ 100 billion for the Federal Government, indicates a recent economic study.
One of them was the recent adjustments in fuel prices such as gasoline and diesel, announced by the state company Petrobras.
After this Wednesday, the date on which the adjustment comes into effect, the average sale price of gasoline to distributors drops from R$ 3.28 to R$ 3.08 per liter, a reduction of R$ 0.20 per liter, or 6.1%.
As for diesel, the final value dropped from R$ 4.89 to R$ 4.49, a reduction of R$ 0.40 per liter, corresponding to an 8.2% decrease in prices.
This is a significant advancement for the national market, given that gasoline had not been readjusted since September 2, while diesel had not seen adjustments since the 20th of the same month.
Although the pass-through of fuel prices still depends on suppliers in each region of the country, it is a fact that this is a major achievement for the segment in recent months.
Despite this, the final price passed on to consumers has not yet been disclosed, and it will depend on the region.
Final Consumption Price for Diesel and Gasoline Still Depends on Local Distributors, but State Company’s Adjustment May Contribute to Falling Prices
Now that the transfer price to distributors has already been altered by Petrobras, it is a moment of waiting for the adjustments from local gas stations in the country.
This is because each gas station has full autonomy to apply taxes, trade fees, and other values to the price of diesel and gasoline, to then make the final adjustment to the charged price.
Considering the percentage of diesel used at gas stations across Brazil for commercial sale, Petrobras’ share of the price to consumers is, on average, R$ 4.04 per liter.
As for gasoline, the state company’s share in the consumer price should be R$ 2.25 for each liter sold at the pump.
“These reductions follow the evolution of reference prices and are consistent with Petrobras’ pricing practice, which seeks to balance its prices with the market, but without passing on to internal prices the structural volatility of quotations and the exchange rate,” stated the company in a note.
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